Rob Portman: “I rise in opposition to the Shays-Meehan legislation. I commend the sponsors for their efforts to clean up our broken…”

“I rise in opposition to the Shays-Meehan legislation. I commend the sponsors for their efforts to clean up our broken campaign finance system, and I believe they are sincere in their efforts. However, while the Shays-Meehan bill makes some needed changes, it fails to go far enough in addressing what I believe are real problems with our current campaign finance system. Shays-Meehan fails to address the underlying problems of special interest influence, foreign influence and built-in incumbent advantages that plague our current system. Moreover, soft money provision, while well-intentioned, raise serious Constitutional concerns. Most seriously, the bill does nothing to address the problem posed by special interest PACs, which contribute overwhelmingly to incumbents and discourage individuals from getting involved in the political process. During the last Congress, I introduced campaign finance legislation containing limitations and increased disclosure for soft money, and other key provisions that go further than the Shays-Meehan bill.”