FOR IMMEDIATE RELEASE: April 16, 1997
CONTACT: Dana Hagerty 202/225-2165
WASHINGTON, DC -- Congressman Collin C. Peterson (DFL-7th District), co-chair of the "Blue Dog" Coalition, joined several Members of the group today as it unveiled its common sense legislation to reform the way American campaigns for public office are financed.
"The bottom line is the system is broken and we need to do something to fix it," Peterson said. "No one wants to talk about it, but the truth is politicians spend too much time raising money. This legislation will change all that."
The bill will provide an opportunity for the Supreme Court to reconsider its 1976 decision in Buckley v. Valeo, which held that campaign spending limits violated the First Amendment of the U.S. Constitution. Numerous legal scholars, citizen's groups, and state attorneys general have called on the Court to reconsider the Buckley decision.
"It's obvious from all of the recent allegations of fundraising improprieties in both political parties that this issue must be dealt with," Peterson added, "and we believe the American people will agree with us."
Highlights of the "Blue Dog" campaign finance reform legislation follow:
All contributions to political campaigns or independent expenditures shall be reported if they
exceed $1.
The bill bars national parties from soliciting, receiving, or spending soft money.
The "Blue Dog" plan sets a $700,000 spending limit per campaign cycle, and provides for a
limited 20 percent increase where a run-off election is required. Spending limits will be
increased each cycle to account for inflation.
Political Action Committees (PAC's) would be limited to a maximum contribution of $5,000
per election cycle. Political party expenditures would be capped at $60,000 (for national and
state parties combined).
The bill also limits independent expenditures made in connection with a congressional election
to $25,000 per election cycle. Also, any independent expenditure made within 10 days of an
election must be disclosed to the candidate involved and his opponent before it is broadcast
or disseminated.
The bill requires expenditures by special interest groups to be treated as independent
expenditures, subject to current campaign finance laws and disclosure requirements, if those
communications take place within 90 days of an election and include the name, likeness, or
representation of a candidate for federal public office.