The Supreme Court recently ruled that aggregate contribution limits to political candidates are unconstitutional. Although we are disappointed by this outcome, we will continue to push for real-time transparency of hard money contributions.

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Legislation Intended to Respond to Citizens United

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We have been busy thinking through our response to the Citizens United decision, an issue on the minds of people as diverse as President Obama and Jon Stewart. I thought it would be interesting to identify legislative proposals introduced in Congress since January 20th on this topic. Here's what we found:

  • Proposing an amendment to the Constitution of the United States prohibiting corporations and labor organizations from using operating funds for advertisements in connection with any campaign for election for Federal office. H.J. Res 68
  • To require the approval of a majority of a public company's shareholders for any expenditure by that company to influence public opinion on matters not related to the company's products or services. HR 4487
  • To amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporations in which foreign principals have an ownership interest. HR 4510
  • To amend the Federal Election Campaign Act of 1971 to prohibit corporations which employ or retain registered lobbyists from making expenditures or disbursements for electioneering communications under such Act, and for other purposes. HR 4511
  • To amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporations which are owned or controlled by foreign principals, to increase the civil penalties applicable to foreign nationals who violate the ban, and for other purposes. HR 4517
  • To amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporations which are owned or controlled by foreign principals. HR 4522
  • To amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporations whose shareholders include any foreign principals. HR 4523
  • A bill to amend the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nationals to domestic corporation which are owned or controlled by foreign principals. S 2954

Updated to include Jan 27-29:

  • To amend the Federal Election Campaign Act of 1971 to require certain campaign-related communications paid for by a corporation or labor organization to include a statement identifying the chief executive officer of the corporation or the president of the labor organization, and for other purposes. HR 4527
  • To amend the Securities Exchange Act of 1934 to require the express authorization of a majority of shareholders of a public company for certain political expenditures by that company, and for other purposes. HR 4537
  • To amend the Federal Election Campaign Act of 1971 to extend the ban on election activity by foreign nationals to election activity by domestic corporations which are subsidiaries of foreign principals. HR 4540
  • To prohibit entities from using Federal funds to contribute to political campaigns or participate in lobbying activities. HR 4550
  • A bill to amend the Federal Election Campaign Act of 1971 to protect Federal, State, and local elections from the influence of foreign nationals. S 2959

More information on policy responses to CU (and perhaps an updated list of legislation) is available here.