David Price: “Mr. Chairman, we have an opportunity today to take a serious step toward cleaning up elections financially and…”

“Mr. Chairman, we have an opportunity today to take a serious step toward cleaning up elections financially and otherwise. The Shays-Meehan bill closes the soft money loophole that has made a mockery of the existing contribution limits. It holds advocacy groups accountable for the money they raise and spend in campaigns. It strengthens enforcement. And it includes a variant of my stand-by-your-ad bill to make candidates and committees more accountable for the ads they run. Stand-by-your-ad was first introduced by the gentleman from California (Mr. Horn) and myself 2 years ago. It is a good North Carolina idea originated by Lieutenant Governor Dennis Wicker, recently passed by our General Assembly and signed into law. It will make candidates think twice before running mud-slinging or distorted ads, for the sponsoring candidate will have to appear in that ad and take responsibility for it. Shays-Meehan is legislation we should have passed months ago, but I am pleased that this bill is finally on the House floor. Many of us wish the bill did more, but it is a compromise worthy of our support. I urge defeat of all substitutes and passage of the Bipartisan Campaign Reform Act.”