This proposed amendment authorizes Congress to regulate contributions and independent expenditures spent for/against campaigns for office. It includes a 'freedom the of press' exemption.
Section 1
Congress shall have the power to regulate the contribution of funds by corporations, entities organized and operated for profit, and labor organizations to a candidate for election to, or for nomination for election to, a Federal office, and the power to regulate the expenditure of funds by corporations, entities organized and operated for profit, and labor organizations made in support of, or opposition to, such candidates.
Section 2
A State shall have the power to regulate the contribution of funds by corporations, entities organized and operated for profit, and labor organizations to a candidate for election to, or for nomination for election to, public office in the State, and the power to regulate the expenditure of funds by corporations, entities organized and operated for profit, and labor organizations made in support of, or opposition to, such candidates.
Section 3
Nothing contained in this Amendment shall be construed to allow Congress or a State to make any law abridging the freedom of the press.
Sponsor: Sen. Max Baucus
Co-sponsors:
Sen. Jon Tester
This amendment provides for the regulation of money from corporations, for-profit entities, and unions, that is contributed to a political campaign for office - including primary campaigns, and independent money spent for/against the same.
Section 1 authorizes Congress to regulate with respect to elections to federal offices.
Section 2 authorizes the States to regulate with respect to elections to state offices.
Section 3 reiterates the freedom of the press from the above regulations.
1. There is no provision for regulating non-profits, such as Citizens United. This is mission failure.
2. It only addresses campaigns surrounding candidates running for office. Other political campaigns, like state constitutional amendments and "issue ads", continue to go unregulated.
3. It does not cover "in-kind" contributions.
4. It does not affect private contributions.
5. This is a passive amendment in that campaign finance is not affected until further legislation is enacted.
6. This amendment does not preclude public financing, but does not allow for exclusively public financing.
I rate this as marginally effective.