Disclose Act fails again in Senate

The Disclose Act, which would force interest groups to be more transparent about political spending, was shot down once again in the U.S. Senate today.

Democrats failed to come up with the votes to break the Republican filibuster, coming one vote short of the 60 required. This is the second time the attempt to break the filibuster has been defeated.

The Disclose Act is an attempt by Democrats to force corporations and labor unions to abide by more stringent reporting requirements.  the measure is a response to the Supreme Court’s Citizens United ruling earlier this year that allowed interest groups and corporations to spend unlimited dollars in support or opposition to specific candidates and removed time restrictions on spending.

According to the Washington Post citing Federal Election Commission filings, some $87 million has already been pumped into this election cycle by special interest groups.  That number is likley to skyrocket with just 40 days until election day.

In response to the defeat President Obama chastised the senate and said the American people will suffer.

“I am deeply disappointed by the unanimous Republican blockade in the Senate of the DISCLOSE Act, a critical piece of legislation that would control the flood of special interest money into our elections,” he said. “Today’s decision by a partisan minority to block this legislation is a victory for special interests and U.S. corporations – including foreign-controlled ones – who are now allowed to spend unlimited money to fill our airwaves, mailboxes and phone lines right up until Election Day. And it comes at the expense of the American people, who no longer have the right to know who is financing these ads in an attempt to influence an election for their preferred candidate.”

A measure similar to the Disclose Act passed last summer in the House.

Both New Jersey Senators voted in favor of busting the filibuster.

Disclose Act fails again in Senate