Show Me the Money (Contributors)!

Senators Wyden (D., OR) and Murkowski (R., AK) have introduced the Follow the Money Act of 2013. According to a press release by Sen. Wyden, the measure "creates a simple and universal system of disclosure for independent spending in federal campaigns. The legislation would require the source of independent spending to be disclosed in a manner consistent to that applied to federal candidates." Among other things, the bill would "require any and all groups spending at least $10,000 on electoral activity to register and disclose contributions above $1,000. The bill would also raise the threshold for contributor disclosure from $200 to $1,000 for all political committees, including those of candidates and political parties."

Partial press release is located below the jump. 

-------------------------------------------------------------------

Wyden and Murkowski Unveil “Follow the Money” Reform Bill

Senators Co-sponsor Legislation to Address Campaign Finance Abuses and Anonymous Spending

Tuesday, April 23, 2013

WASHINGTON – U.S. Senators Ron Wyden, D-Ore., and Lisa Murkowski, R-Alaska, today introduced bipartisan campaign finance reform legislation to address the influx of anonymous federal election spending and bring transparency and consistency to campaign finance law.

The Follow the Money Act of 2013 creates a simple and universal system of disclosure for independent spending in federal campaigns. The legislation would require the source of independent spending to be disclosed in a manner consistent to that applied to federal candidates.

“These reforms reflect the belief that where there’s significant campaign spending, everyone has to play by the same rules and that voters deserve to know where the money is coming from and where it’s going,” Wyden said. “This will bring an end to the most flagrant abuses that have made a mockery of campaign finance and tax law.”

“Americans expect accountability and transparency from their candidates, and those deciding to influence elections should be held to the same standard,” said Murkowski.  “A majority of Republicans, Democrats and Independents were concerned over the role of big money and secret donors in the last election, proving that this is not a partisan issue, this is an issue about having the best-informed voters possible.” ...