Democracy is Strengthened by Casting Light on Spending in Elections Act

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Ms. JACKSON LEE of Texas. Thank you very much, Mr. Chairman, for your leadership and boldness on this issue.

Mr. Chairman, I hold in my hand a version of the Constitution that is in this very distinct book of rules. And clearly I think it is important for the American people to understand really the action items of this legislation.

Can you imagine a government contractor being paid by your tax dollars--they might be doing the right thing, we don't know--but advocating with your tax dollars for a position you do not want without you knowing that that is occurring?

This bill is under the First Amendment because it says that we give you more transparency. If we read the Constitution in its entirety, the opening says that ``We have come together to form a more perfect Union.'' That means if people are dissatisfied with this bill, they have a right to petition the courts. But we believe we are erring on the side of rightness, breaking those bold chains of big money around your neck and allowing people to either be elected or run for office, dominated, slammed down on the basis of big money.

This is a good change. I ask for my colleagues to support this legislation.

Mr. Chair, I rise in strong support of the DISCLOSE Act, H.R. 5175. I have said repeatedly that this has been one of the most difficult decisions of my political career. However, I strongly believe that if we do not support H.R. 5175, we will be overwhelmed during this election cycle by the richest corporations and individuals in the U.S. I do not believe we will be able to even begin to estimate how much might be spent in the mid-term elections.

I do know that without some mechanism to prevent political opponents from tapping into an unlimited supply of cash, we will be setting the stage for our own demise, as well as a dangerous precedent for future elections. U.S. politics will never be the same after the midterm elections if we do not pass the DISCLOSE Act.

Of course, arguments have been made involving the First Amendment. Many arguments opposing the bill on constitutional grounds are legitimate. Yet, these arguments negate the fact that the DISCLOSE Act will actually expand First Amendment rights that might otherwise be drowned out because the legislation provides fair access for all parties, while breaking the chain big money has in American politics. Sitting on the fence on this bill might be considered tempting, although if we sit on the fence today we will pay a price tomorrow.

While the DISCLOSE Act exempts large established 501(c)(4) from some of the bill's disclosure requirements, it addresses the fundamental issue of eliminating the possibility that a rich corporation or individual can hide behind their money. Transparency as it relates to campaign financing is the principle behind the DISCLOSE Act.

After years of the Abramoff scandal, special interests lobbyists writing legislation and an explosion of earmarks, the New Direction Congress is working to restore honest leadership and open government.

Congressional Republicans support Wall Street banks, credit card companies, Big Oil, and insurance companies--special interests that benefited from Bush's policies and created the worst financial crisis since the Great Depression--and are working to be rewarded by their corporate friends.

The DISCLOSE ACT will accomplish a number of things, including:

Prevent Large Government Contractors from Spending Money on Elections: Prevents government contractors with over $10 million in contract money from making independent expenditures and electioneering communications. Before the Citizens United case, corporations could not make political expenditures in federal elections.

Prevent TARP recipients from Spending Money on Elections: Prohibits bailout beneficiaries from making independent expenditures or electioneering communications in federal elections until the government money is repaid.

Limit Foreign Influence in American Elections: Extends existing prohibitions on campaign contributions and expenditures by foreign nationals to domestic corporations in which foreign nationals own more than 20% of voting shares, make up a majority of the board of directors, and/or have the power to dictate decision-making of the domestic corporation.

Strengthen Disclosure of Election Ads: Expands electioneering communications that must be disclosed under the bill to broadcast ads referring to a candidate in the 120 days before the general election, expanded from 60 days before the general under current law.

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