[Ed. – Bad Koch money. BAD! But all those Democracy Alliance bucks? Way good, bub.]
Senate Majority Leader Harry Reid (D-Nev.) on Thursday called for amending the U.S. Constitution to bar big money donors from having an outsized impact on the nation’s elections, saying billionaire donors were mounting a “hostile takeover” of America.
“Amending our Constitution is not something any of us should take lightly, but the flood of special interest money in our American democracy is one of the glaring threats our system of government has ever faced,” Reid said on the Senate floor. “Let’s keep our elections from becoming speculative ventures for the wealthy.”
The amendment, sponsored by Sens. Tom Udall (D-N.M.) and Michael Bennet (D-Colo.), would reverse the Supreme Court’s 2010 Citizens United and 2014 McCutcheon rulings, as well as part of its 1976 Buckley v. Valeo ruling, and restore certain congressional authority to regulate the raising and spending of money, including that of super PACs. …
Sen. Chuck Schumer (D-N.Y.), Reid’s No. 3, first revealed in April that Democrats were planning to vote on the constitutional amendment.
“The Supreme Court has equated money with speech, so the more money you have the more speech you get, and the more influence in our democracy. That is wrong,” Reid said Thursday.