I have two must haves on my list of laws on how to reform the financing of election campaigns.
I. A constitutional amendment must be passed to prevent for-profit corporations from spending money on campaigns or from giving money to “pre-official announcement” organizations, campaign organizations, election organizations, political parties and similar entities whose purpose is to elect or influence the election of individuals to public office.
II. There must be transparency. Transparency is accomplished by passing specific laws.
To accomplish transparency, Congress should enact the following now:
1. All not-for-profit, including tax-exempt, organizations, “pre-official announcement” organizations, campaign organizations, election organizations, political parties and similar entities must disclose the names of individual (and corporate or other) donors who contribute more than $100.00 if any of its funds are used on “pre-official announcement” campaigns, seeking-the-nomination campaigns or campaigns to elect individuals to public office or influence the election of individuals to public office or the approval or disapproval of a binding or non-binding referendum type of issue petition or otherwise influence a public election outcome. Publication on a designated Internet site at least two business days prior to the close of an election must be required.
2. At the conclusion (or bottom of) all election-related advertisements in all media, print, broadcast or Internet, the exact cost of the ad and the entity or individual paying for the ad must be given.