Voting Blogs: The DISCLOSE Act and the Non-Profit Campaign Finance Loophole | Legislation & Policy Brief Blog
Thanks in no small part to the efforts of comedian Stephen Colbert, the issues around Super PACs and the campaign finance regime in this country have been elevated in the national consciousness. People following campaign finance are aware of the now famous 2010 Supreme Court decision in Citizens United v. Federal Election Commission (FEC), which held that corporate and union political speech, in the form of spending on independent and electioneering communications, is protected by the First Amendment. However, there is still considerable misunderstanding about how the system works and why corporate and union donations remain largely undisclosed. This post will attempt to briefly explain the main forces at work in keeping these donations in the shadows and the current most viable legislative fix, the Disclosure of Information on Spending on Campaigns Leads to Open and Secure Elections (DISCLOSE) Act of 2012 recently reintroduced in the House. Super PACs are among the hottest discussion topics this campaign season and are used as shorthand for the problem that ail our campaign finance system, but, in fact, the issues around Super PACs are not quite so simple. Super PACs emerged not directly from the Citizens United decision but from a subsequent DC Circuit court case called SpeechNow v. FEC. In that case, the court held that corporations and unions were permitted to make unlimited donations to support political committees making so-called independent expenditures – political spending not coordinated with a campaign. After that decision the FEC began permitting independent expenditure political action committees (IE-PACs) which were soon dubbed Super PACs.Full Article: » The DISCLOSE Act and the Non-Profit Campaign Finance Loophole Legislation & Policy Brief Blog.