Washington, DC - May 4, 2010 - Congressman Bruce Braley (D-Iowa) today signed onto legislation promoting transparency and openness in government in response to the Citizen's United Supreme Court decision in January. The DISCLOSE (Democracy Is Strengthened by Casting Light On Spending in Elections) Act will require campaigns to release financial information to the public. The legislation was introduced by Reps. Chris Van Hollen (D-MD), Mike Castle (R-DE), Walter Jones (R-NC), and Robert A. Brady (D-PA).
"We have an obligation to be open and honest with our constituents throughout the political process," Braley said. "This Supreme Court decision allows big corporations to spend unlimited treasury funds to advocate for or against candidates. I believe Iowans deserve to know who is financing their elected officials. This bill provides that transparency and access to information."
The key directives of the bill are:
- Enhance requirements for disclosure of political spending
- Require sponsors and funders of political ads to identify themselves
- Strengthen prohibition on coordination of political activities
- Prevent foreign influence on U.S. elections
- Ban pay-to-play
- Prevent government contractors from spending money on elections
- Prevent corporate beneficiaries of TARP from spending money on elections
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