Sunday, April 25, 2010
(graphic: Church of the SubGenius)
Unhappy over the U.S. Supreme Court’s decision in Citizens United v. FEC, which eliminated campaign spending limits for corporations and labor unions, Democrats in Congress have introduced legislation that seeks to place some restrictions on big-money interests.
For starters, corporations taking advantage of the ruling that spend money on political advertisements would have to put their CEOs on camera saying that they endorse the campaign message.
The bill also would force corporations, unions and other outside groups to inform the government within 24 hours if they engage in campaign-related activity or transfer money to other groups for use in campaigns.
Furthermore, any company whose ownership is more than 20% foreign-owned would be prohibited from benefiting from the Citizens United ruling. The same would be true for businesses that still owe the government for borrowed monies from the TARP program.
-Noel Brinkerhoff
Dems Want CEOs On Camera (by Reid Wilson, National Journal)
Democrats Outline Campaign Finance Bill (by Eric Lichtblau, New York Times)
Democrats Push Quick Fixes on Campaign Finance (by Fredreka Schouten, USA Today)
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