Posted on 04/29/2010 1:59:17 PM PDT by NormsRevenge
WASHINGTON (Reuters) – Democratic lawmakers on Thursday introduced legislation to blunt the impact of a recent Supreme Court ruling that allows corporations, unions and other groups to spend unlimited funds on political campaigns.
Unveiled by Senator Charles Schumer on the steps of the court, the White House-backed initiative calls for the unprecedented disclosure of money in politics three months after the court ruled 5-4 that long-standing campaign finance limits violated the free speech rights of corporations.
The court ruling is expected to unleash a flood of money from the traditionally pro-Republican business community to campaigns designed to favor or oppose candidates in this year's congressional elections and the 2012 presidential contest.
Schumer, who is spearheading the legislative counterattack with House Democrat Chris Van Hollen, said the Supreme Court stacked the deck against average Americans and predicted its ruling would be a factor in President Barack Obama's upcoming choice for the Supreme Court.
New measures require corporations, unions and other groups to disclose their financial roles in political TV campaigns including those that favor or oppose specific candidates.
"This legislation will stop the funneling of big money through shadow groups in order to fund ads that are virtually anonymous," said Schumer, who wants a Senate vote by July 4.
Obama welcomed the legislation as "the toughest-ever disclosure requirements for election-related spending" and urged swift consideration by the Democratic-led Congress.
(Excerpt) Read more at news.yahoo.com ...
(snicker)
And no mention of Barry’s millions from GS & Wall Street. Stupid Party rides again.
this has zero chance of passing, next
“I’m Van Delay Industries CEO Don Veeblefitzer, and I approve this message. Because you SUCK, Schumer!”
Full disclosure should have been the entire extent of the original Bill, not restriction.
Except to them.
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