Citizens United Hearing: Pass Bill to Stop BP From Buying Elections
The Huffington Post covers the U.S. House Committee on Administration's hearing on the DISCLOSE Act and Public Campaign President Nick Nyhart's testimony."Congress should pass legislation to counteract the recent Supreme Court decision allowing unlimited corporate campaign ad spending to prevent oil giant BP from buying elections, said an advocate of campaign finance reform Thursday. "Public Campaign president Nick Nyhart told the Committee on House Administration that the Supreme Court's decision in Citizens United v. FEC gives BP the unlimited ability to back candidates who oppose legislation increasing BP's liability for the oil spill. "Under current law, BP's liability to area businesses ruined by the spill is only $75 million. A bill called the Big Oil Bailout Prevention Act, introduced by Democratic senators on Monday, would raise that liability to $10 billion. "Our political system -- given this Supreme Court's recent decision -- allows companies like BP to spend their treasury money to influence elections," said Nyhart, according to his prepared remarks. "What would stop BP -- a foreign owned corporation -- facing the prospects of $10 billion in clean up liabilities from spending $10 million, or $50 million, or even $100 million or more to elect candidates who oppose this bill or defeat those who support it? It's simple math to see their financial interest is in spending $100 million to save $10 billion." Click here to read the full article.