Etheridge Votes to Prevent Foreign Companies and Governments from Influencing American Elections

Press Release

U.S. Rep. Bob Etheridge (D-Lillington) voted to shine a light on the role of special interests by increasing disclosure rules and strengthening transparency in federal campaigns. The bi-partisan DISCLOSE Act will prevent big corporations from drowning out the voices of North Carolina's voters in the coming elections. It passed today by a vote of 219-206.

"Members of both parties can agree that Americans have a right to know who is spending money on elections," Etheridge said. "This legislation is a common-sense approach to transparency that puts the needs of average Americans, not special interests, at the center of our democracy."

The DISCLOSE Act requires corporations, organizations, and special interest groups to stand by their political advertising just like a candidate for office does. It will stop Wall Street, Big Oil, and U.S. corporations controlled by foreign -- sometimes hostile -- governments from secretly manipulating elections by funneling money to fly-by-night front groups.
In January of this year, in Citizens United v. Federal Election Commission, the Supreme Court ruled that under the First Amendment Congress may not limit corporate funding of independent political broadcasts in candidate elections. With the disclosure provisions in this bill, CEOs will need to identify themselves in their advertisements, and corporations and organizations will be required to disclose their political expenditures. The bill also prohibits entities that receive taxpayer money -- such as large government contractors and corporations receiving TARP funds -- from turning around and spending that money to influence elections.

"Today's vote today was a victory for the American people and will restore their control over the electoral process," Etheridge said.

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