Sen. Marco Rubio introduces the Mind Your Own Business Act
District of Columbia | September 24, 2021
“Patriotic Americans who love their country and the opportunity it provides should be able to fight back against the growing tyranny of the woke elites running corporate America.” – Sen. Marco Rubio
Sen. Marco Rubio (R-Fla.) introduced the Mind Your Own Business Act, which would enable shareholders to hold woke corporations accountable.
Specifically, the legislation would require corporate directors to prove their “woke” corporate actions were in their shareholders’ best interest in order to avoid liability for breach of fiduciary duty in shareholder litigation over corporate actions relating to certain social policies. It would also incentivize corporate management to stop abusing their positions to advance left-wing social policies by increasing their personal liability to shareholders for breaches of fiduciary duty resulting from those policies.
Rubio told Fox Business News, “If a company is going to boycott a state or pull a product off the market because it has an American flag on it and they are concerned that might offend some people, or if a company is going to make these decisions under pressure from either the woke culture or some employee uprising internally, then they should have to justify to their large shareholders why they’ve done it and why that’s in the best interest of the company.”… (Excerpts from The Daily Torch)