Thursday, April 29, 2010
Senator Chuck Schumer and Representative Chris Van Hollen introduced companion bills today in the Senate and the House to restrict expenditures on certain electioneering communication and to increase reporting and disclosure requirements for others in response to the Supreme Court's decision in Citizens United v. FEC.
The DISCLOSE Act would prohibit expenditures by governmental contractors, TARP recipients (but only taxpayer funds), and by foreign nationals, and bolster expenditure reporting and disclosure requirements (upheld in Citizens United). Senator Schumer's summary is here.
(Can you guess what DISCLOSE stands for? Get ready: Democracy Is Strengthened by Casting Light On Spending in Elections.)
President Obama issued a statement today, calling the legislation "urgent" in the aftermath of Citizens United.