Obama Bill Calls for Disclosure of Bundlers in Campaigns, Greater Transparency in Fundraising
U.S. Senator Barack Obama (D-IL) today will introduce legislation that will require candidates for Congress and the presidency to disclose all of their largest bundlers and how much those contributors raise. Obama's bill will require candidates for Congress to disclose all of the people who gather contributions from others in excess of $15,000 in any six month period and require presidential candidates to disclose people who gather contributions of others in excess of $50,000 anytime during the two-year period prior to Election Day.
Senator Obama fought for and won a provision in the Senate ethics reform bill that requires campaigns to disclose campaign contributions solicited by lobbyists from their friends and colleagues - a practice known as bundling. Obama's bill introduced today will go further by requiring the disclosure of all the wealthy and connected contributors who play a critical role in campaigns by bundling contributions from their friends and associates.
"Real change and reform in Washington will only happen when we put the people's interests before the special interests," Senator Obama said. "We must have full transparency in campaigns to remove the perception that politicians are indebted to any one special interest at the expense of the public interest. The ethics bill that just passed in the Senate and House includes my provision requiring campaigns to disclose the role of Washington lobbyists in contributing and soliciting contributions. But we can go further by shining a bright light on all the wealthy and connected donors who fuel campaigns. The American people have a right to know who is behind the excessive money in politics, and deserve leadership that will achieve a truly open and honest government that works for them."