On the recordMay 12, 2010
I also speak today in strong support of S. 3295, the Democracy Is Strengthened by Casting Light on Spending in Elections, also known as the DISCLOSE Act. In particular, I want to talk about the provisions in title III that will create much needed transparency and accountability in our elections system in response to the Citizens United decision. That decision is widely expected to trigger a new flood of campaign-related funds from corporations, unions, trade associations, and nonprofit organizations. In that ruling, the Supreme Court drastically changed our election laws to allow unlimited corporate election spending from company treasury funds. It did not, unfortunately, require those corporations to disclose--to their shareholders, members, or the American public-- either where the money came from or how it was spent. Title II of this bill makes sure American voters know who is behind the election ads they see. Title III of the bill makes sure that the people that paid for those ads--like shareholders and union members-- know how their money was spent.
