James Davis: “Mr. Chairman, I do not think the debate here today is about whether the system here is broken. I think, fortunately…”

“Mr. Chairman, I do not think the debate here today is about whether the system here is broken. I think, fortunately, that debate is over. This system is broken. This system is rancid. It needs repair. I do not think the debate here today is about constitutionality. We know, those of us who proudly support Shays-Meehan, that we are about to pass a constitutional bill. But let me set forth some facts here. In the 1991-1992 election cycle, $86 million in soft money was raised and spent by both political parties. By 1996, that number had exploded to $260 million. In next year's election cycle, it appears that may reach an unprecedented level of $500 to $750 million. This is a system out of control. This is an example of excess. Control is moving further and further away from people and more and more in the hands of special interests. Those are the facts. The same problem is developing with respect to the sham issue ads. The argument that we are having to debate here on the floor of the House of Representatives is whether people in this country who have special interests before Congress should have a right to anonymous political advertising.”