Michigan Senator Backs Campaign Finance Reform Legislation
Bills Would Increase Transparency in Spending and Reduce Influence of Special Interests
In an effort of support, Mich. Sen. Gary Peters has cosponsored two bills as of Aug. 30 that would increase transparency in campaign finance and reduce the influence of special interests. The Democracy Is Strengthened by Casting Light On Spending in Elections (DISCLOSE) Act will require outside groups that spend over $10,000 on election advertising, including super PACs, to disclose their donors and source of funding within 24 hours.
Peters is also cosponsoring the Fair Elections Now Act, which would establish citizen-funded elections to better strengthen small donors and grassroots voices. Peters previously cosponsored both bills in the 114th Congress.
Transparency has become an increasingly prevalent issue for civil servants on both sides of the isle and for the public in the past year. Many believe that information regarding special interest groups have remained too tightly guarded or unrecognized while still playing a significant role in general election outcomes.
“For too long, our campaign finance system has given big corporations the ability to spend millions of dollars on federal elections – silencing the voices of Michigan middle class families in the process,” said Peters. “It should be Michiganders deciding who represents them, not corporations looking to buy influence. I’m proud to cosponsor these commonsense bills that will help increase transparency and give power back to the American people in our elections.”
The DISCLOSE Act would require any covered organization that spends $10,000 or more on election ads to file a disclosure report with the Federal Elections Commission (FEC) and file a new report for each additional $10,000 or more spent. The report must include sources of all donations of $10,000 or more that the organization received during that election cycle. The legislation would also direct the FEC and U.S. Department of Treasury’s Financial Crimes Enforcement Network to share information to identify and prevent foreign election spending. The DISCLOSE Act is supported by many campaign finance reform stakeholders including: Public Citizen, the federation of Public Interest Research Groups, Brennan Center, League of Women Voters, People for the American Way, Center for Responsive Politics and the Sunlight Foundation.
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