Great legislative response to the Supreme Court's "corporate personhood" ruling on campaign contributions. From The Hill:
The Citizens United ruling opened the floodgates to unlimited spending by corporations, unions and other groups in individual campaigns. The bill’s title, the DISCLOSE Act, reflects the authors’ emphasis on transparency. The acronym stands for Democracy is Strengthened by Casting Light on Spending in Elections.
The bill would force strict disclosure requirements for ads, including a mandate that CEOs, top officials and donors appear on camera to “approve” messages. It also wouldn’t let major donors hiding behind other groups remain in the shadows.
“In order to seek out the real money behind the ad, this legislation will drill down several layers and require the top contributor directing the funds to also ‘stand by the ad,’” the summary said.
In addition, the bill would require the top five contributors to an organization to be listed on screen or in the radio ad.
It would allow political observers and the general public to know in real time where the money for the ads is coming from. Any organization that funds political advertisements would be forced to disclose its campaign activity and transfers of money to other groups that can then be used for campaign-related activity to the Federal Election Commission “within 24 hours.”