José E. Serrano: “I rise in support of H.R. 2356, the Shays-Meehan Bipartisan Campaign Finance Reform Bill. First, I congratulate our…”

“I rise in support of H.R. 2356, the Shays-Meehan Bipartisan Campaign Finance Reform Bill. First, I congratulate our colleagues from Connecticut (Mr. Shays) and Massachusetts (Mr. Meehan) for their diligence and persistence on this issue over the years. I remind my colleagues that legislation very similar to the bill under consideration today has passed the House twice before. I also applaud the courage of the 218 Members, particularly our 20 Republican friends, who signed the discharge petition that finally allows the House to work its will on campaign finance reform. It is an unusual procedure, but was necessary in this case. The 2000 elections were the most expensive ever, coming in at almost $3 billion. This is appalling. The system is broken. The American people are justified in lacking confidence that their priorities are considered as seriously as those of the big donors. The influence of money in American politics is a problem as old as the Nation. It is discouraging to remember that the broken campaign finance system that Shays-Meehan would replace was itself once seen as a reform, designed to limit undue influence by large unregulated and undisclosed campaign contributions, but that big money soon found its way around the reforms through soft money and 'independent' advertising.”