Whitehouse among senators pushing for greater regulation of Super PACs
From a news release:
“The Supreme Court’s Citizens United decision has subjected the American people to a flood of political ads funded by anonymous donors,” said Whitehouse. “The American people deserve to know who is really behind these ads. This legislation will require organizations involved in elections to tell the public where they are getting their money, and what they are spending it on – shining a badly needed light into the activities of these groups.”
The Act requires any covered organization that spends $10,000 or more during an election cycle to file a report with the Federal Election Commission within 24 hours, detailing the amount and nature of each expenditure over $1,000 and the names of all of its donors who gave $10,000 or more. Transfer provisions in the bill prevent donors from using shell organizations to hide their activities.
The DISCLOSE Act of 2012 also includes “stand-by-your-ad” stipulations requiring any group putting a political spot on TV or radio to specify its top funders in the ad.
The Sunlight Foundation offers some examples of what this kind of beefed-up disclosure would look like.
Politico, meanwhile, reports that Republicans have shown very little interest in the Senate Democrats’ attempt to shed more light on Super PACs.