Ted Cruz: “today I am introducing the SuperPAC Elimination Act. Another election cycle has come and gone without addressing a…”

“today I am introducing the SuperPAC Elimination Act. Another election cycle has come and gone without addressing a glaring issue that remains significant: free speech and transparency in campaign finance. Our current campaign finance system is absurd. Right now, a large percentage--sometimes a majority--of campaign expenditures are made by independent third-party SuperPACs that are prohibited from communicating with candidates. That makes no sense. Candidates should define their own messages, and citizens should be free to support whatever candidates they choose to support. Restrictions to political contributions are always presented under the guise of preventing corruption and holding politicians accountable, when in fact they accomplish exactly the opposite: protecting incumbent politicians. My legislation would put Americans on a level playing field with the media and politicians when it comes to influencing elections and exercising our First Amendment rights. Specifically, it would remove the caps on direct contributions to candidates from individuals and requires donations of more than $200 to be disclosed within 24 hours. Establishing unlimited contributions paired with immediate disclosure is the best way to promote transparency, eliminate the viability of SuperPACs going forward, and ensure that free speech is protected in the electoral process.…”