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Posts Tagged ‘campaign spending’

Of the $176.1 million spent by outside groups using large, often undisclosed contributions to influence the current elections, just 10 groups are responsible for the bulk of the spending, according to a new analysis released today by Public Citizen.

What’s more, 59.9 percent of the money comes from undisclosed sources. Of those contributions that have been disclosed, nearly two-thirds has come from just 0.12 percent of the contributors. The analysis of data from Public Citizen’s Stealth PACs database shows that: (more…)

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In today’s WaPo, columnist E.J. Dionne says that the Supreme Court’s decision in Citizens United v. Federal Election Commission, which gave corporations the green light to spend unlimited funds in elections, was either “the most Machiavellian in American history or the most naive” decision the high court has made.

In Citizens United, the court’s “5 to 4 conservative majority broke with decades of precedent and said Congress had no right to ban corporate or labor union spending to influence the outcome of elections,” Dionne said. “The decision is Machiavellian if (more…)

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Stunning Statistics of the Week:

Amount financial industry has spent on lobbying this year: $251 million

Amount Citigroup spent on lobbying during the first half of 2010: $3 million

Amount Goldman Sachs spent on lobbying in the first half of 2010: $2.7 million

Amount Bank of America spent on lobbying in the first half of 2010: $2.1 million


Goldman Sachs says it won’t make direct expenditures on electioneering

Goldman Sachs is taking the high road – sort of. (more…)

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Holman

Today, the U.S. House of Representatives took the first bold step in repairing some of the damage caused by the U.S. Supreme Court’s disastrous decision in Citizens United v. Federal Election Commission. Public Citizen applauds the passage of the DISCLOSE Act (H.R. 5175) by a 219 to 206 vote. Two Republican members of Congress – Reps. Michael Castle (Del.) and Walter Jones (N.C.) Anh “Joseph” Cao (La.) – stood firm on their principles of promoting transparency in elections and joined in leadership with Rep. Chris Van Hollen (D-Md.) in pressing for adoption of the measure.

When five justices of the Supreme Court decided unilaterally to rewrite the nation’s campaign finance laws and allow unlimited corporate spending in elections, it became imperative for Congress, at least as a first step, to give voters a chance to know who is paying how much to promote or attack candidates. The DISCLOSE Act, which stands for Democracy Is Strengthened by Casting Light On Spending in Elections, provides voters the desperately needed means to decipher campaign messages by revealing the true funding sources behind campaign ads. The measure closes the gaping loopholes in current disclosure laws that allow corporations, unions and wealthy individuals to hide their campaign spending by funneling their money through trade associations and innocuous-sounding front groups. Revealing the funders behind these groups is perhaps the most valuable tool voters can use in evaluating the merits of the campaign messages that are about to besiege them. (more…)

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