June 24, 2010 

PERLMUTTER VOTES FOR GREATER TRANSPARENCY IN CAMPAIGN ADS AND SPENDING

 Washington, DC – Today, Rep. Ed Perlmutter (CO-07) voted to shine a light on the role of special interests by increasing disclosure and strengthening transparency in federal campaigns.  The bipartisan DISCLOSE Act will prevent big corporations from drowning out the voices of the American people in elections.

Perlmutter said, “This year’s Supreme Court decision in Citizens United was an outrageous case of judicial activism, giving big business the right to buy elections and silence the voice of the American voters.  The American people have a right to know who is spending millions to influence elections.  This bill pulls back the curtains and lets the sun shine in on campaign spending.  No more deception or hiding behind a fancy name.”

The DISCLOSE Act requires corporations, organizations, and special interest groups to stand by their political advertising just like a candidate for office does.  It will stop Wall Street, big oil companies, and U.S. corporations controlled by foreign – or even hostile – governments from secretly manipulating elections by funneling money to fly-by-night front groups that run last minute attack ads and other anonymous election advertisements. 

CEOs will need to identify themselves in their advertisements, and corporations and organizations will be required to disclose their political expenditures.  The bill also prohibits entities that receive taxpayer money – such as large government contractors and corporations receiving TARP funds – from turning around and spending that money to influence elections.

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