Tuesday, July 17, 2012
According to the Washington Post, Senate Republicans blocked to the DISCLOSE Act of 2012 on a party line procedural vote, which prevented the legislation from moving to the floor for full consideration.
The DISCLOSE Act of 2012 (which stands for the "Democracy Is Strengthened by Casting Light On Spending in Elections Act of 2012’’)* would have required covered organizations to make additional disclosures regarding their political expenditures and their donors. While the legislation would amend the Federal Election Campaign Act, the definition of a covered organization was mostly drafted in connection to the organization's tax status. Generally, the expanded disclosures would have covered (1) all corporations (other than 501c3 organizations), (2) all organizations exempt under 501(a)(other than 501c3 organizations), (3) certain labor organizations, and (4) 527 organizations. (See page 12 of the linked Act) In addition, there were specific provisions addressing affiliated organizations.
*(Author's Opinion: really, how much legislative staff time is spent coming up with these not-really-so-witty-anymore acronyms for bills? Seriously, enough already.)