Democrats plan to introduce bill to blunt ruling on political spending


Author: Dan Eggen
Location:
Capitol Building, East Capitol Street, NE and 1st Street, NE, Washington, DC, 20002, United States

Apparently, Democrats plan to introduce legislation next week that would sharply limit the ability of foreign-connected companies to participate in U.S. politics and require greater transparency from corporations, unions and nonprofit groups that pay for political advertising.

The proposal, spearheaded by Rep Chris Van Hollen (D-MD) and Sen. Charles E. Schumer (D-NY), is aimed at blunting the effect of a Supreme Court ruling in January that permits companies and unions to spend unlimited amounts of money for or against political candidates. President Obama has sharply attacked the ruling, and many Democrats fear it will unleash a flood of corporate spending that is likely to favor Republicans.

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