“Section 1. To advance the fundamental principle of political
equality for all, and to protect the integrity of the legislative and electoral
processes, Congress shall have power to regulate the raising and spending of
money and in-kind equivalents with respect to Federal elections, including
through setting limits on--
(1)
the amount of contributions to candidates for nomination for election to, or
for election to, Federal office; and
(2)
the amount of funds that may be spent by, in support of, or in opposition to
such candidates.”
Additionally, Section two imparts identical authority for states
to regulate State office elections. This proposed amendment would essentially
overturn Buckley v. Valeo, Citizens United v. FEC, and McCutcheon v. FEC. Majority
Leader Harry Reid has backed this proposed amendment as an effort to battle significant
donors he opposes, such as the Koch brothers.
Ranking Rules Committee Member Pat Roberts plainly
stated yesterday on the Senate floor that, “[i]t is not necessary to amend
the First Amendment to ensure that all Americans can exercise their First
Amendment rights. Those rights are already guaranteed by the First Amendment as
written. The amendment
the majority wants to impose would allow them to once again curtail those
rights.”
The
Wall Street Journal warns
that:
The real guarantee
would be political advantage for all incumbents, since it's the sitting
lawmakers who really benefit from any law limiting contributions to candidates
or on their behalf. While Beltway boys like Messrs. Schumer and Udall have the
name recognition to raise money in small increments, challengers often need the
financial boost from a few individuals to get their message heard. . . .
Once you've opened the First Amendment for revision by politicians, and
reinterpretation by judges, anything can happen.
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