This blog is about big money in politics and the corruption that follows it. Citizens for Truth was started as a result of the U.S. Supreme Court’s Citizens United decision in 2010. This ruling effectively removed limits on the amount of money corporations and unions can spend in elections. The only requirement is that the expenditures must be independent of the candidate’s own campaign — there can be no coordination or other collaboration between the candidate or political party and the outside group.
Since that decision, the number of outside groups has increased exponentially. Each election seems to involve more money than the one before it. National elections, but also state and local, are heavily influenced by big money donors. It is often the case that big money donors in state and local elections don’t even live in the state, let alone the local areas. As a result, outside groups, along with their corporate and out-of-state donors, are calling the shots in state and local elections, not the people who actually live there. The two primary types of big money outside groups are SuperPACS and 501(c)4 “social welfare” organizations (for more information see these posts: 501(c)4s; PACs, SuperPACS, 501(c)4s).
The key difference between these two groups is disclosure. SuperPACs are required to disclose donations, while 501(c)4s are not. The latter is often referred to as “dark money.”
Let’s switch gears for a moment and discuss Montana’s importance in campaign finance. Continue reading
Posted in 501(c)4 groups, Citizens United, Corruption, Supreme Court
Tagged 17th Amendment, 501(c)4 group, big money donors, big money in politics, campaign finance, Citizens United, Corrupt Practices Act, corruption, Montana, Montana Supreme Court, Supreme Court, Western Tradition Partnership, WTP
This is a continuation of a prior post concerning initiatives to fight big money in politics. In that post, 4 initiatives were discussed in which action can be taken to reduce the influence of big money in politics and in our government or, at least, bring attention to that need. This post discusses 4 more initiatives.
5. SEC Regulation
This initiative involves soliciting the Securities and Exchange Commission (SEC) for a rules change in order to provide more transparency in corporate political spending. One of the arguments used by the Supreme Court in substantiating its Citizens United decision was that there would be full disclosure and transparency in corporate political spending, so there was no need to worry. However, this has turned out not to be the case. Because of the dysfunctional Federal Election Commission (FEC), disclosure rules are becoming more and more ineffective because of all the loopholes. Even Congress tried to pass a law requiring all publicly traded corporations to disclose their political spending, but has twice failed. Many are now looking to the SEC to act. Since the SEC has rulemaking authority in this area, it has the power to require disclosure. Continue reading
Posted in Money in Politics
Tagged big money in politics, Center for Political Accountability, Citizens United, corporate political accountability and disclosure, disclose political spending, dysfunctional Federal Election Commission, FEC, initiate a shareholder resolution, initiatives to fight big money in politics, SEC, shareholder resolution to require disclosure, Stamp Stampede, transparency in corporate political spending