Two years ago, the Supreme Court's decision in Citizens United v. FEC overturned a century of common-sense campaign finance laws and allowed unlimited corporate and special interest donations into our political campaigns. This week, Representative Van Hollen and House Democrats introduced the Disclosure of Information on Spending on Campaigns Leads to Open and Secure Elections Act of 2012 (DISCLOSE 2012 Act). Passed by the House during the 111th Congress, the DISCLOSE Act would restore transparency and accountability to our campaigns.
To shine a light on the money in politics, the DISCLOSE 2012 Act will:
* Require public reporting by corporations, unions, Super PACs and other outside groups to the Federal Election Commission within 24 hours of making a campaign expenditure or transferring funds to other groups for campaign-related activity (of $10,000 or more).
* Require corporations and other outside groups to stand by their campaign ads -- with their leader and top financial contributors disclosed in the ads.
* Require corporations and other outside groups to disclose campaign-related spending to shareholders and organization members.
* Require lobbyists to disclose campaign-related expenditures in conjunction with their lobbying activities.
We must restore transparency and fairness to our political process, returning political power and influence to our nation's voters. We must work together to protect the rights of all citizens and preserve the integrity of our democracy.