I rise in support of the Ney substitute based on the principles that were articulated by the sponsors of this legislation in the last Congress who claimed at the time that the original version of Shays-Meehan was based on principle. If my colleagues take time to read the latest version of Shays-Meehan, they see that it has abandoned principle. What is the basic premises for Shays-Meehan? Banning that evil thing called soft money. Shays-Meehan is so full of loopholes today that it allows for $60 million in soft money to continue to be part of the process. It is so full of loopholes that independent advocacy attack ads are prohibited on electronic media, they are prohibited from spending money to advocate a position up until the election on TV or radio; but they can still buy full page ads in the New York Times, The Washington Post, U.S.A Today, and all the other print media. The question is why does the print media get that loophole and not electronic, television, or radio? It is a good question. Something we want to ask. I also wonder why they changed the effective date.
Editor's note · Context
Discussing concerns about the Shays-Meehan campaign finance reform legislation.
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