Thanks to their friends in the Senate, deep-pocketed campaign donors get to keep their masks on... for now.
Excerpt from article by BILL MOYERS and MICHAEL WINSHIP
Once upon a time conservatives supported the full disclosure of campaign contributors. Now they oppose it with their might — and magic, especially when it comes to unlimited cash from corporations. My goodness, they say, with a semantic wave of the wand, what’s the big deal?: nary a single Fortune 500 company had given a dime to the super PACs. (Even that’s not entirely true, by the way.)
Meanwhile the other hand is poking around for loopholes, stuffing millions of secret corporate dollars into non-profit, tax-exempt organizations called 501(c)s that funnel the money into advertising on behalf of candidates or causes. Legally, in part because the Federal Election Commission does not consider them political committees, they can keep it all nice and anonymous, never revealing who’s really behind the donations or the political ads they buy. This is especially handy for corporations — why risk offending customers by revealing your politics or letting them know how much you’re willing to shell out for a permanent piece of an obliging politician?
That’s why passing a piece of legislation called the DISCLOSE Act is so important and that’s why on Monday, Republicans in the Senate killed it. Again.
Why? Senate Majority Leader Harry Reid: “Perhaps Republicans want to shield the handful of billionaires willing to contribute nine figures to sway a close presidential election.” The election, he said, may be bought by “17 angry, old, white men.”
The DISCLOSE Act is meant to pull back the curtain and reveal who’s donating $10,000 or more not only to super PACs but also to trade groups like the U.S. Chamber of Commerce and these so-called “social welfare” non-profits that can spend limitless cash on campaigns as long as it’s less than half the organization’s total budget.
The New York Times recently cited a report by the Center for Responsive Politics and the Center for Public Integrity finding that “during the 2010 midterm elections, tax-exempt groups outspent super PACs by a 3-to-2 margin with most of that money devoted to attacking Democrats or defending Republicans.” We’re talking in excess of $130 million. What’s more, the Times reported, “such groups have accounted for two-thirds of the political advertising bought by the biggest outside spenders so far in the 2012 election cycle… with close to $100 million in issue ads.” [MORE]
Via Jessica English