Another Legislative Fix to Citizens United
Democratic leaders in each chamber have teamed up today to introduce a legislative package designed to nullify the Supreme Court’s recent decision empowering corporations to spend uncapped sums to influence federal elections. Calling the High Court’s ruling a “radical decision” that could “drown out the voices of American citizens,” Rep. Chris Van Hollen (D-Md.) called on Congress to consider the bill quickly. Sen. Charles Schumer (D-N.Y.) is the upper-chamber sponsor.
The highlights:
- Ban on expenditures from foreign interests.
- Ban on expenditures from Federal contractors.
- Ban on expenditures from TARP recipients.
- Disclosure to the public through enhanced reporting through the FEC and LDA.
- Disclosure to shareholders directly and through the SEC.
- Stand By Your Ad (CEO and donor disclosure).
- Lowest Unit Rate (air time for candidates and party committees).
- Coordination Rules (tightened between outside groups and candidates).
Not that this has much chance to get anywhere anytime soon — especially considering the way Senate Minority Leader Mitch McConnell (R-Ky.) embraced the Citizens United decision. But it’s probably also more realistic for Congress to address the issue this way, rather than going the much tougher Constitutional-amendment route.
