The Business Roundtable sent out a self-congratulatory statement on Tuesday, praising its member companies for “stepping up our efforts to address the inequities and injustices that exist within our society’s systems.” The statement cites six areas of action (e.g., donations to historically black schools, commitments to affordable housing), although its language on hiring personifies corporate-speak (companies have “[reformed] their hiring and talent management practices to emphasize the value of skills, rather than just degrees, and [opened] their companies to more talented individuals from diverse backgrounds”).

These actions are commendable, but when it comes to the most urgent racial issue of our time — voting rights — corporate America has been less than impressive.

After much-criticized hesitation in the battle over Georgia’s voter-suppression law, a batch of large corporations in April issued a statement supporting voting rights. Since then? Corporate America has continued supporting the same politicians who unanimously opposed reauthorization of the John Lewis Voting Rights Advancement Act and other compromises on voting rights reform. Corporations have become adept at issuing statements, but after Major League Baseball relocated its All-Star game from Atlanta, corporations have not used their economic power in defense of democracy.

Noah Bookbinder, president of Citizens for Responsibility and Ethics in Washington, tells me: “Corporations cannot credibly tout their support for racial justice or voting rights if they continue to funnel support to members of Congress who have opposed legislation protecting Americans’ freedom to vote and, going further, have actively worked to invalidate the votes of people of color in communities across this country by voting against certifying the 2020 election.” He adds: “Companies need to rethink their corporate contributions before they take credit for their positions on racial justice.”

The same pattern holds true on police reform. Despite Business Roundtable’s boasting of its robust advocacy for police reform, corporations continue to fund Republican politicians who block reform bills.

Other reform advocates agree. Kyle Herrig, president of Accountable.US, tells me, “Corporations can’t keep masquerading as defenders of democracy so long as they prop up the very politicians scheming to disenfranchise millions of voters of color. CEOs must actually abide by the values they’ve espoused, or at least stop lying to the public about what they really care about — cultivating political influence at any cost.” He adds: “Companies will find continued efforts to deceive their customers and shareholders will have diminishing returns for their bottom lines and reputations.”

This is especially true when it comes to advocacy and lobbying in state legislatures. Sherrilyn Ifill of the NAACP Legal Defense Fund tells me, “The business community has demonstrated its willingness to donate money, but with few exceptions, not the courage to use its voice to speak out against state voter suppression laws that threaten our democracy.” She adds: “At this perilous moment in our country, we need the philanthropy of the business community to be accompanied by the clear and unequivocal voice of business leaders at key moments when their influence is most needed.”

If corporations were to expend the same money and energy they have deployed in opposing any increase in the corporate tax rate to demanding action on voting rights, Sen. Lisa Murkowski (Alaska) might not be the sole Republican senator to support any voting rights reform. Likewise, Republican governors and legislators might think twice before backing new barriers to voting, sponsoring fake election “audits” and setting the groundwork to overturn election results.

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Standing up for voting rights is not counter to their own interests. As Reed Galen of the Lincoln Project points out, “Corporate America needs to remember that only a healthy democracy allows for a healthy market economy. The more the government takes control of everyday life, makes threats to private companies, and holds individuals accountable for their words and deeds, the less likely a robust, dynamic economy is possible.”

The good news is that it is not too late. Businesses might consider a pro-voting pledge: No money for backers of voter suppression, filibusters against voting rights or gimmicks to overturn elections. Partner with voting groups to help register all eligible employees to vote. Give workers paid time off to vote and to volunteer as poll workers. Provide their facilities for early and Election Day voting.

The 2022 midterms are right around the corner. This is perfect time to put corporate money and muscle where their mouths have been.