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Klobuchar Cosponsors Legislation Limiting Political Spending by Special Interests

April 29, 2010

Washington, D.C. – Today U.S. Senator Amy Klobuchar announced she is an original cosponsor of legislation being introduced by Senator Chuck Schumer (D-NY) which attempts to blunt the impact of the Supreme Court’s ruling in the Citizens United v. Federal Election Commission campaign finance case earlier this year. In a 5-4 decision, the Court overturned decades of campaign finance law and policy by allowing for virtually unlimited special interest spending on federal elections.

“The Supreme Court’s troubling ruling in the Citizens United case was further evidence that special interests have had too much influence in our political process for too long,” said Klobuchar.  “As Justice Stevens’ dissent so eloquently made clear, corporations aren’t people -- people are people. This legislation will bring transparency to campaign spending by special interests and is a step towards ultimately restoring the right of individual Americans to have their voices heard.”

Under the Democracy is Strengthened by Casting Light on Spending in Elections (DISCLOSE) Act, recipients of TARP funds, foreign corporations and government contractors with contracts worth more than $50,000 will be prohibited from spending money on federal elections.  Additionally, under the bill, CEOs of organizations which run political advertisements must stand by the ad in the same manner as political candidates are required to by clearly stating that they “approved this message.”  Finally, corporations and unions must disclose their political spending to shareholders and members in periodic reports, and must also list such spending on their own website within 24 hours of reporting the expenditure to the Federal Election Commission.

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