April 29, 2010

WASHINGTON - Financial Services Committee Ranking Member Spencer Bachus today made the following statement regarding the DISCLOSE Act, which was introduced by Senator Charles Schumer, the former Chairman of the Democratic Senatorial Campaign Committee, along with the companion bill drafted by Representative Chris Van Hollen, the current chairman of the Democratic Congressional Campaign Committee.

"It's shocking to me that two of the top Democrat campaign fundraisers have consulted with the top fundraiser of all time - President Obama - to draft a highly partisan bill designed to protect their members and stifle the very speech the Supreme Court ruled constitutionally protected. 

"Make no mistake, this bill is intended to silence their critics and to place a new level of burdensome regulations that will make individuals think twice before exercising their right to criticize the Democrat controlled government. 

"The Citizens United decision applies equally to corporations, labor unions, trial lawyers and environmental groups, yet this legislative response fails to address all equally, and puts Congress in the position of picking political winners and losers.