In early October, elected politicians formed a coalition in efforts to fight a sudden influx of campaign cash from a hydra of corporations, unions and independent entities.
The goal of this new group is to alleviate the potentially overwhelming influence these donors with an unlimited amount of money have.
On Oct. 4, New York City Public Advocate Bill de Blasio, along with a series of officials spanning several states, announced the beginning of the Coalition for the Accountability in Political Spending (CAPS). Other founding members include Illinois Governor Pat Quinn, Pennsylvania Treasurer Rob McCord, North Carolina Treasurer Janet Cowell, Los Angeles City Controller Wendy Greuel and New York State Comptroller Tom DiNapoli.
"Shareholders should have a fair say in how their investments might be used for political purposes," said Ola Fadahunsi, a spokesperson for New York State Comptroller office. "Investors are part-owners of these companies and should have the ability to question the actions made in their name and with their money."
The formation of the new group was triggered by a landmark decision made by the U.S. Supreme Court in January. The court's decision in the case of Citizens United v. Federal Election Commission held that corporate funding of independent political broadcasts could not be limited under protection of the First Amendment of the Constitution.
"What we're asking corporations like Goldman Sachs and J.P. Morgan and others to do is to renounce the group Citizens United and pledge their responsibility to both their own shareholders and to consumers," said Matthew Wing, communications director of the NYC Public Advocate's office.
Citizens United is a non-profit organization that was founded in 1988 by Conservative activist Floyd Brown. Due to the CAPS coalition's opposition to Citizens United's Republican leanings, some Republicans suspect that the CAPS coalition is a front group for Democrats to counter the fundraising mismatch between Democrats and the GOP.
With the exception of Greuel, all of the founding members of the coalition are Democrats. Greuel's office in California is officially nonpartisan.
Earlier this year, measures in the House of Representatives passed that would have required the disclosure of donor names and personal approval of the advertising content, just as is required of political candidates. Notwithstanding, the bills died in the Senate.
Political campaign spending by external groups has skyrocketed since the Court's ruling. The Republican Party has outspent Democrats by a 6-to-1 ratio, according to reports from the Federal Election Commission.
"Money is certainly political speech," said Travis Nemmer, a sophomore political science major and vice president of the UB College Republicans.
Nemmer had an explanation for the lack of proportional funding between Democrats and Republicans during this election year.
"Corporations are hedging their bets on who they think will win, and most of the polls have Republicans on the rise this year," Nemmer said. "Corporations are trying to influence policy and it makes no sense to contribute to a losing campaign. I think it would be a different story in 2008; you'd probably see a large wave in donations to Democrats."
Undeniably, Democrats received more money in both House and Senate campaigns in 2008, when tolerance for Republican politicians had reached a low point. In the 2009 to 2010 election cycle however, Republicans now lead in both receipts and disbursements in the contests of both houses.
Although there is one month of campaigning and fundraising left, both houses already have receipts totaling over $1 billion. This amount is enough to frustrate numerous people in both the government and the electorate.
"When corporations buy elections, all Americans lose," said Tom DiNapoli in a press release on the CAPS coalition formation. "CAPS is a vital counterweight to the outsize influence corporate money and corporate power have on our political process."
Students at UB have echoed DiNapoli's sentiment.
"It's terrible, but what can you do. They have the money and the power," said George Kamenos, a graduate student in the Department of Exercise and Nutrition Sciences. "Individual citizens should have the ultimate say in governance."
Many Progressives and Democrats remain skeptical about an apparently inside track to campaign finance reform, as well.
"We certainly support restrictions on unlimited corporate spending," said Leland Murphy, senior history major and president of UB College Democrats. "However, you'll never be able to remove it. Look at the numbers – it takes millions of dollars these days to wage successful campaigns."
For more information on the Coalition for Accountability in Political Spending, visit http://saveourelections.com/.
Photo: Courtesy of Laron Fomby
