Senate Dems: More sunshine on big campaign bucks

By Scott Wong
Call it DISCLOSE Act 2.0.

After coming one vote shy of passing the campaign finance reform bill in 2010, Democratic senators are giving it another shot. They rolled out a simpler version of the legislation Wednesday that aims to shed more light on who's giving big bucks to super PACs to influence elections.

GOP presidential frontrunner Mitt Romney and the political action committee backing him have outspent the three other candidates combined, according to news reports.

"Looks to me like the result of the Republican primary is the guy with the biggest checkbook is the one that wins," said Sen. Tom Udall (D-N.M.), one of
the bill's co-sponsors. "Our campaign finance system is in severe need of sunshine."

The bill would require any outside group that spends $10,000 or more on an expenditure to publicly disclose its major donors within 24 hours. It also calls for a "stand-by-your-ad disclaimer," requiring such groups to disclose the names of their top executives and financiers whenever running a negative radio or TV ad.

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