In response to the Supreme Court’s ruling in the recent Citizens United v. FEC case — which overturned campaign finance law th
at barred corporations and unions from paying unlimited sums for political ads and was widely hailed by conservatives as a victory for first-amendment rights — Democratic leaders in Congress have begun taking steps to circumvent the decision.
Reports the Financial Times:
Senior Democratic lawmakers proposed legislation yesterday that would force some of the most powerful political organizations in the US – including the US Chamber of Commerce on the right and MoveOn.org on the left – to reveal the names of the corporations and individuals who fund their advertising campaigns.
The proposal would also force US corporations to notify shareholders immediately of “all political expenditures” and bar companies that have “foreign ownership” of more than 20 per cent from spending money on US elections.
The bill, which will be formally introduced at the end of the month, was written with the support of the Obama administration by Senator Chuck Schumer of New York and Congressman Chris Van Hollen of Maryland. It represents a remarkable attempt by Congress, controlled by the Democratic party, to neuter a 5-4 Supreme Court ruling last month.
via The Daily Caller