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Major Campaign Finance Reform Bill Passes House

 

WASHINGTON, DC – Today, Congressman Mike Michaud voted to pass H.R. 5175, the DISCLOSE Act, which is a legislative response to the Supreme Court’s ruling in the Citizens United case. That decision overturned a decades-old law banning political expenditures by corporate interests.  The DISCLOSE Act would partly restore those limits by barring foreign-controlled corporations, government contractors and companies that have received assistance from the TARP program from making political expenditures.  It would also require corporations, unions, and other organizations that make political expenditures to disclose their donors and stand by their ads.

 

“I think that it is incredibly important that individuals know who is trying to influence the outcome of elections,” said Michaud.  “This bill will ensure that voters can clearly identify when a particular individual, corporation or political organization is dumping money into an election so that they can make an informed decision based on all of the facts.  At the same time, the bill will put important protections in place to prevent TARP recipients and domestic companies that are under foreign control from influencing the outcome of our elections.”

 

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