Udall Backs Proposed New Restrictions on Super PACS

Sen. Tom Udall signed onto legislation today that would place new restrictions on so-called super PACS and other groups pouring big money into federal elections.

Udall, a New Mexico Democrat, has sounded alarms about the effects of the Citizen United Supreme Court ruling for months. Today’s bill introduction, sponsored by Sen. Sheldon Whitehouse, D-R.I., Udall and 32 other senators, is an attempt to blunt the effect of that court ruling in the 2012 elections.

The bill currently has no Republican co-sponsors. It’s not clear if it will get one. Some Republicans, such as Sens. John McCain  of Arizona and Sen. Lisa Murkowski of Alaska, have publicly denounced the Super PACS.

The Whitehouse-Udall bill would force political action committees spending more than $10,000 in a 24-hour period to disclose the expenditures and the donors.

Udall said Citizens United has transformed elections into “auctions.”

“The super PACS have grown dramatically,” Udall said at a press conference in the U.S. Capitol today. “It looks to me like the result in the Republican primary is the guy with the biggest checkbook is the one that wins. We’ve turned our system from a marketplace of ideas…we’re now in an auction situation in my mind.”

Citizens United, handed down by the high court two years ago, allows corporations and unions to spend as much as they like to support or attack candidates in elections. Super PACS have already spent millions in the 2012 Republican presidential primary race.

According to Udall’s office, the DISCLOSE Act of 2012:

• contains transfer provisions necessary to prevent the actual sources of funds from being hidden by laundering the funds through third-party groups.

• contains transfer provisions necessary to prevent the actual sources of funds from being hidden by laundering the funds through third-party groups.

• expands the definitions of “independent expenditures” and “electioneering communications,” the funding sources of which must be disclosed, to reflect the realities of year-round federal elections today.

• provides multiple mechanisms, such as the use of a segregated bank account, to allow for protection of legitimate non-political donations from disclosure, and does not require funds transferred in the ordinary course of business for non-political purposes, or between affiliates, to be disclosed.

• ensures that organizations and individuals take responsibility for negative or misleading political advertising that they produce and distribute, the legislation also includes “stand-by-your-ad” disclaimer requirements that require any organization that puts a political ad on TV or radio to list in the ads its top five funders (for a TV ad) or top two funders (for a radio ad).  The head of the organization also must appear in the ad and state that he or she approves the message, just as candidates must do now.

Super PAC Requirements:

Super PACs Need To Play By The Same Rules

• The bill includes a separate section that lays out the disclosure and disclaimer requirements for super PACs.  These requirements are substantively the same as the requirements for all other covered organizations.