Wyden, Democrats intro bill targeting ‘dark money’

Sen. Ron Wyden, D-Ore. joined Sen. Sheldon Whitehouse, D-R.I., and every Senate Democrat on Wednesday to introduce legislation that they said will shine a light on the unlimited “dark money” that’s flooding U.S. elections and giving special interests an undue influence in government.

The DISCLOSE Act would require organizations spending money in federal elections to disclose their donors, and help guard against hidden foreign interference in our democracy, Wyden said in a news release.

Wyden also urged the Senate Committee on Rules and Administration to convene a hearing on the newly introduced DISCLOSE Act.

“Americans are sick and tired of special interests burying their voices under an avalanche of dark money that wields power over our political system at every level,” said Wyden, who authored the Stand By Your Ad provision in the bill. “The DISCLOSE Act will provide the transparency and accountability needed to restore the democratic process and ensure all Americans know the real interests behind the messages that bombard them.”

The DISCLOSE Act would rein in special interests burying the voices of the American people in politics by requiring the disclosure of donors who have given $10,000 or more during an election cycle. Stand by Your Ad, the Wyden-led provision included in the bill, would require corporations, unions, and other organizations to audibly and visibly identify themselves as the funders of political ads.

The bill would also protect against foreign spending in American elections and crack down on shell corporations by requiring companies spending money in elections to disclose their true owners, so election officials and the public know who is behind the spending.

A full summary of the bill is available here. Bill text is available here. A copy of the letter sent to the Rules Committee can be found here.