Bob Wise: “Mr. Speaker, this is not campaign finance reform. Most people think the problem with campaigns today is that there is…”

“Mr. Speaker, this is not campaign finance reform. Most people think the problem with campaigns today is that there is too much spending in elections. This bill on the floor says the problem is there is not enough spending in elections. This bill increases the amount that the wealthiest can contribute. That is not reform. This bill increases the amount that individuals can give to political parties. That is not reform. It does nothing to stop the unlimited soft money, the real loophole in this present process. That is not reform. It does nothing to limit giving to the political parties. In fact, it increases how much you can give. That is a big loophole. It does nothing to reign in independent expenditures, one of the biggest loopholes around right now. It does nothing to limit how much political parties can spend in behalf of a candidate. That is a big loophole. That is not reform. It has nothing to do with what the American people want and what they tell me. It does nothing to limit the cost of a congressional campaign. That is not reform.”