June 24, 2010

WASHINGTON, DC -- On June 24, Congressman Tim Bishop voted for passage of the Democracy is Strengthened by Casting Light on Spending in Elections (DISCLOSE) Act, the strongest campaign finance reform legislation in nearly a decade. The bipartisan legislation is a strong response to the Supreme Court's controversial Citizens' United decision, which opened the floodgates for unlimited political expenditures by corporations, unions, and special interest groups.

"Americans have the right to know what special interests are spending money to influence our politics," said Bishop, a cosponsor of the DISCLOSE Act.n"Unlimited speech in the form of political advertisements must be accompanied by full disclosure."

The legislation, which passed by a bipartisan majority of 219 to 206, contains the following reforms:

• Increases transparency and disclosure of political spending, including a "stand by your ad" provision under which individuals or groups funding an ad must identify themselves.
• Prevents foreign companies—including Venezuela's CITGO and others owned by hostile foreign governments—from influencing America’s elections.
• Ensures that entities receiving taxpayer money can’t spend in elections. These entities include federal contractors who have or are negotiating any contract worth at least $10 million and entities seeking assistance from the Troubled Asset Relief Program.
• Requires organizations to provide the identities of donors who give at least $600 in a year for campaign-related activities.
• Requires corporations and organizations to report to shareholders or members on political spending.

"The Supreme Court's decision allows the many powerful special interests to drown out the voices of everyday Americans," Bishop said. "Citizens not only deserve the reforms in the DISCLOSE Act, they have demanded them."

The DISCLOSE Act was endorsed by a coalition of government reform groups including Common Cause, League of Women Voters, Public Citizen, Campaign Legal Center, Citizens for Responsibility and Ethics in Washington (CREW), and Democracy 21. Companion legislation is pending in the Senate, where Republicans have threatened a filibuster.

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