Gov. Newsom urged to block bill forcing corporations to reveal historic slavery ties
A California bill requiring large companies to disclose any slavery-era activities has been sent to Governor Gavin Newsom, and critics say it is a costly, symbolic measure that should be vetoed.
The California Legislature approved AB 2599, a bill that mandates any corporation doing business in the state and earning more than $100 million globally to submit an affidavit disclosing whether it or its predecessors profited from slavery-era transactions. The affidavits, subject to perjury penalties, would be uploaded to a searchable state database, opening companies to potential litigation by major law firms. Opponents note that California never permitted slavery and question how many firms still exist with records dating back to 1865, estimating only a few hundred.
They also criticize the bill as a virtue-signaling effort that could increase compliance costs and deter businesses from operating in California. The measure now awaits Governor Gavin Newsom’s decision, with critics urging a veto to protect the state’s economic interests.
Why it matters
The bill could impose costly compliance requirements on major companies and affect California's business climate.
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