I don’t know enough about this act to comment. This is the statement from Tom Perriello’s website. See his video as well.
I do find it interesting that in his video he says it is part of decency to say “this is who I am” but we still don’t even know if he resides in the 5th district.
Congressman Tom Perriello’s effort to protect U.S. elections from foreign influence achieved a significant victory today by passing the U.S. House as part of the DISCLOSE Act (H.R. 5175). In the wake of the Supreme Court’s Citizens United ruling, which allowed for unlimited corporate spending in electioneering activity, Rep. Perriello introduced H.R. 4523, the Save Our Democracy From Foreign Influence Act of 2010, which would prohibit corporations with foreign shareholders from making contributions or expenditures in American elections. Today, the House passed by voice vote an amendment sponsored by Perriello to achieve a similar goal.
“The Constitution begins, ‘We the people,’ not ‘We the corporations’ or ‘We the foreign corporations.’ This legislation and my amendment provide critical protections for our democracy so that no foreign entity can come in and influence our elections. China already owns too much of our debt; let’s not sell them our democracy as well,” said Perriello. “Where I come from, people aren’t afraid to put their name by what they say. We need those same Main Street values of accountability and decency in our politics, too. The DISCLOSE act does just that by requiring the big banks, big oil companies, and big insurance companies to put their names on their ads just as clear as day.”
The DISCLOSE Act passed today with bipartisan support. The bill would increase transparency in political advertising by requiring corporations, organizations, and special interest groups to stand by ads just like candidates do. It will also prevent bailed-out banks, large government contractors, and corporations controlled by foreign governments from creating front groups and attempting to manipulate elections anonymously.
The bill exempts from donor disclosure requirements groups like the National Rifle Association, 501(c)(4)s that have more than 500,000 dues-paying members, with members in all 50 states, that receive no more than 15% of their funding from corporations or labor unions, and that have been in existence over 10 years. Last week, Perriello defended the NRA against liberal and conservative attacks saying, “The DISCLOSE Act is about taking control of our politics away from corporate front groups and handing it back to the people. The NRA, with its four million dues-paying members, is the epitome of people-powered politics and they deserve to have their voices heard in elections. Liberals may not like the NRA’s beliefs but they should admire their people-powered organizing.”
Background information on the DISCLOSE Act:
- Prevents Taxpayer Funds from Going to Campaign Ads: Prevents corporations that have received significant taxpayer funds, such as large government contractors and bailed-out banks, from making independent expenditures and electioneering communications.
- Limits Foreign Influence in American Elections: Extends existing prohibitions on campaign contributions and expenditures by foreign nationals to domestic corporations in which foreign nationals have significant control. (Rep. Perriello-sponsored amendment)
- Increases Sunlight on Funders of Ads: Requires corporate CEOs to appear on camera to say that he or she “approves this message” funded by their company – just like current law requires candidates to do.
- Strengthens Donor Disclosure by Corporations, Unions, and 504 (c)(4)s, (6)s, and 527s: Requires full and timely disclosure of campaign-related expenditures made by these organizations, including corporations and labor organizations.