Anna Eshoo: “My colleagues, this is the final amendment to improve this important piece of legislation that I fully support. Capital…”

“My colleagues, this is the final amendment to improve this important piece of legislation that I fully support. Capital formation is the lifeblood of innovation in the 21st century, as it was in our past in America. It's so essential to our national economy. Just as importantly, transparency is the lifeblood of our democracy. The amendment I'm offering today will ensure that emerging growth companies nurtured under today's legislation will fully disclose their political expenditures. Just as entrepreneurs deserve all of the tools available to create and grow companies, voters deserve every tool to decide on public issues for themselves. Since the Supreme Court's disastrous Citizens United decision, voters across the country have been treated to a sad spectacle not seen since the Watergate era or even the Gilded Age. This year's Presidential election is bearing witness to hundreds of millions of dollars spent on behalf of candidates. The vast majority of the money is coming from outside the channels of parties and candidates, unaccountable to the voters for the messages they deliver. Instead, money from corporations and extremely wealthy people is now being spent through so-called nonprofits and super PACs, denying and delaying disclosure or preventing it all together. The American people deserve better. House Democrats have offered comprehensive transparency legislation called the DISCLOSE Act, and we should pass that bill together as soon as possible.…”