This proposed amendment, officially entitled the "Saving American Democracy Amendment," was proposed by Vermont senator Bernie Sanders in the aftermath of the Supreme Court's decision in the Citizens United case that corporate political donations were a form of political speech protected by the First Amendment. The text of the amendment describes its purpose. It would:
...expressly exclude for-profit corporations from the rights given natural persons by the Constitution of the United States, prohibit corporate spending in all elections, and affirm the authority of Congress and the states to regulate corporations and to regulate and set limits on all election contributions and expenditures.
Essentially, the amendment's supporters argue that corporations exert an undue amount of influence over the political process through their donations. They argue that corporation donations should be tightly regulated, or even eliminated altogether, and that corporations should not be, contrary to the Supreme Court's decision, afforded the same free speech rights as individual American citizens.