ICYMI: Ted Cruz, Mark Meadows Bill to Eliminate SuperPACs Highlighted by WSJ
WASHINGTON, D.C. – On Wednesday, The Wall Street Journal published an article highlighting U.S. Sen. Ted Cruz’s (R-Texas) and Rep. Mark Meadows (R-N.C.) SuperPAC Elimination Act of 2017, which champions free speech in the election process and effectively eliminates SuperPACs by allowing unlimited individual contributions to candidates with immediate disclosure.
“In remarks Wednesday, Mr. Cruz sought to emphasize that his proposal would curtail the power of super PACs, political committees funded by unlimited contributions from often wealthy donors that are barred from coordinating with candidates,” the article reads. “‘The current system is absurd,’ said Mr. Cruz. ‘As a candidate who has had super PACs supporting me and super PACs attacking me, it makes no sense not to have candidates able to communicate their own messages and instead have this bizarre world of super PACs.’”
Read the article in its entirety here and excerpts below:
Ted Cruz, Mark Meadows Proposal Would Allow Unlimited Campaign Contributions
The Wall Street Journal
By: Byron Tau
November 30, 2016
Two conservatives in Congress have proposed allowing donors to give unlimited amounts of money to federal political candidates, a long-sought measure given fresh energy with the imminent Republican control of Congress and the White House.
A measure reintroduced on Wednesday by Sen. Ted Cruz of Texas and Rep. Mark Meadows of North Carolina would toss out the current $2,700 per-election limit on individual donors while requiring donations greater than $200 to be disclosed within a day.
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Senate Majority Leader Mitch McConnell has also long sought to loosen campaign finance rules, arguing political spending is a form of speech protected by the U.S. Constitution.
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Mr. Cruz, a onetime Republican presidential candidate and leading conservative voice in the Senate, said Wednesday that overhauling the federal campaign finance system would be a top priority in the new Congress.
In remarks Wednesday, Mr. Cruz sought to emphasize that his proposal would curtail the power of super PACs, political committees funded by unlimited contributions from often wealthy donors that are barred from coordinating with candidates.
“The current system is absurd,” said Mr. Cruz. “As a candidate who has had super PACs supporting me and super PACs attacking me, it makes no sense not to have candidates able to communicate their own messages and instead have this bizarre world of super PACs.”
The SuperPAC Elimination Act from Messrs. Cruz and Meadows would keep in place the ban on corporate contributions to candidates.
During the campaign, Mr. Trump criticized the amount of money spent in support of his rivals through super PACs, though allies of Mr. Trump later set up several independent groups to boost his presidential bid. He has endorsed the principles of the bill Mr. Cruz has introduced, including better disclosure.
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