On the recordMay 23, 2012
Mr. President, I am pleased that I could be here today to join you, to join Senator Whitehouse and our colleagues who have been working to try to bring to light for the public the serious and ongoing problem of excessive campaign spending. I congratulate Senator Whitehouse for all of his work in leading this effort. It has been very important. This excessive spending has been a problem for the last 2 years, since the Supreme Court's decision in Citizens United, because their decision has allowed for the formation of what has been called super PACs, which are really organizations that can spend unlimited amounts of money without ever having to disclose where that money came from. So the public doesn't know who is spending the money, doesn't know how the decisions about spending are made. We are actually in the middle of the first Presidential election since that Supreme Court decision, and we can see the dramatic impact of that spending. There are now more than 500 super PACs registered with the Federal Election Commission. They are permitted to raise and spend unlimited amounts of secret money to fund political advertisements. Again, I want to emphasize the fact that we do not know where this money is coming from. We do not know if it is coming from corporations. We have heard a lot of stories and seen a lot of stories that there are very wealthy individuals who are putting up money for these super PACs.…





