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Democrats rush to curb corporate election spending before vote in November

By: Jared Allen, TheHill.com

Democrats are hoping to fast-track a set of sweeping new campaign finance regulations to prevent the Supreme Court’s landmark Citizens United decision from affecting the November midterm elections.

Sen. Charles Schumer (D-N.Y.) and Rep. Chris Van Hollen (D-Md.) on Thursday unveiled the majority party’s legislative response to the Citizens United case, which they and other Democrats — including President Barack Obama — have sharply criticized as one that will “open the floodgates” to corporate financing of federal elections.

Opting against a constitutional amendment to undo the court’s rejection of existing laws that ban certain political spending by corporations, Democrats are proposing to ban donations by foreign-influenced and taxpayer-assisted corporations, as well as a series of tough new disclosure requirements on corporations that would still be allowed to steer money toward political action groups.

To continue reading this article: http://thehill.com/homenews/campaign/80745-dems-look-to-crack-down-on-corporate-political-spending-ahead-of-midterms

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