Citizen Vox: Public financing of elections: an idea whose time has come

April 6, 2011- Talk about an idea whose time has come.

Today, the Fair Elections Now Act is being re-introduced. Actor Alec Baldwin, who was present at the bill’s introduction, told CNN it was a critical step toward “reducing the influence of corporate lobbyists and special interest money.”

Alec is right. The bill would help candidates remain free from corporate interests by providing public money for their campaigns if they raise a certain amount of small-dollar contributions from voters.

The grip that corporations have over our elections and our lawmakers is unprecedented, thanks in no small part to the U.S. Supreme Court’s January 2010 decision in Citizens United v. Federal Election Commission. That’s the decision that gave corporations the green light to spend as much money as they want on elections.

What does that decision mean for you? It means that lawmakers are even more beholden to wealthy corporate interests — oil and coal companies, financial giants, agribusiness mega-companies and so forth — and even less likely to act in your interests. After all, those corporations are looking out for their bottom lines and have no problem rolling over citizens to boost profits. They want public policies that advance that goal. They give money to lawmakers so they can ask for favors later.

We saw the effect of the Citizens United decision on the midterm elections: spending by outside groups jumped to $294.2 million in the 2010 election cycle from just $68.9 million in the 2006 cycle. Nearly half of the money spent came from just 10 groups. Two groups formed by Republican strategist Karl Rove combined to spend $38.2 million, more than any single group. Next was the U.S. Chamber of Commerce.

FULL STORY HERE:


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