On the recordMarch 30, 1998
it is an outrage that wealthy individuals can contribute huge sums of money to both political parties and that so-called independent expenditures, under which there are no regulations, can attack candidates all over this country in ugly 30 second ads. Madam Speaker, this bill would close the door even further on working people's participation in the electoral process by making it harder for union members to participate. Apparently our Republican friends are not content that during the 1995-1996 election cycle corporations, groups and individuals representing business interests outspent organized labor 12 to 1. Twelve to one, and apparently that gap is not wide enough. Our Republican friends wanted to make it even wider. The legislation before us would increase, not decrease, the influence of wealthy contributors, by tripling the amount of money individuals can donate to Federal candidates and political parties. Madam Speaker, currently the wealthiest one-quarter of 1 percent of Americans contribute 80 percent of all political contributions. That is an outrage. We have got to end it.
Source
govinfo.gov




