Campaign financing in our nation is corrupting our political system with secret money from special interests and large outside funders.
Already in this election cycle we have seen a slew of money from secret donors, corporations and special interests. If Congress does not act to clean up our election finance system, 2012 will be known as the year of the Super PAC, and voters will be deprived of the information they need to make informed decisions in this election.
Congress can act to close the floodgates against secret big-money special interests in our elections. The DISCLOSE Act of 2012 is moving in the Senate and it would require full transparency and let the sunlight in. The DISCLOSE Act is the key that will allow voters to make their own decisions and shine the light on big-money outside spending in this election.
The DISCLOSE 2012 Act is carefully crafted to require disclosure by outside groups of large campaign contributions and expenditures – those over $10,000 – and includes valuable “stand-by-your ad” provisions for ads run by such groups. It requires outside groups to certify that their spending is not coordinated with candidates and, very importantly, covers transfers of money among groups so that the actual sources of funds being spent to influence federal elections will be known. Most importantly, it would give voters the information they need to judge for themselves about the advertising and the candidates.