Rep. Wasserman Schultz Votes for Greater Transparency in Campaign Ads and Spending

Washington, DC – Rep. Wasserman Schultz voted late yesterday to increase disclosure and strengthen transparency in federal campaigns.  The bipartisan DISCLOSE Act will prevent big corporations from overpowering voices of regular American voters.

“Citizens have a right to know what company is pumping millions of dollars into certain campaigns to influence elections,” said Rep. Wasserman Schultz.  “The Supreme Court’s decision earlier this year in the Citizens United case allowed for huge amounts of corporate spending in campaigns—without any requirements for disclosure or transparency.  This bill allows everyone to know which companies are spending money, and where they’re spending it.”

The DISCLOSE Act requires corporations, organizations, and special interest groups to stand by their political advertisements.  It stops Wall Street, Big Oil, and U.S. corporations controlled by foreign – or even hostile – governments from secretly manipulating elections. 

The bill dictates that CEOs will need to identify themselves in their advertisements, and that corporations and organizations will be required to disclose their political expenditures.  The bill also prohibits entities that receive taxpayer money – such as large government contractors and corporations receiving TARP funds – from turning around and spending that money to influence elections.

“By passing this legislation, we are putting American voters—not special interests—at the wheel of our political process,” said Rep. Wasserman Schultz.  “Sadly, all but two Republicans opposed this bill, demonstrating their desire to please corporations and special interests over the people that they represent.”
This bill is the most far-reaching and significant campaign finance reform law since the McCain-Feingold Act. It has been subject to extensive bipartisan debate, including six public hearings, and contains both Democratic and Republican amendments. 

The DISCLOSE Act has strong support from the campaign finance reform community. It has been endorsed by Common Cause, League of Women Voters, Public Citizen, Campaign Legal Center, Citizens for Responsibility and Ethics in Washington (CREW), and Democracy 21, among many other organizations.  .