SENATOR COLLINS' STATEMENT ON DISCLOSE ACT

"As a co-sponsor of the 2002 campaign reform law, I was disappointed that the Supreme Court struck down so many key provisions of this bipartisan legislation. But two wrongs do not make a right. The partisan proposal advanced by Senator Schumer is not the remedy.

"Let me be clear. I support campaign finance reform. Americans have the right to know who is contributing to political campaigns. Throughout my time in the Senate, I have consistently worked for greater transparency in our campaign financing system. I cosponsored the bipartisan Senate Campaign Disclosure Parity Act, which was introduced by Senator Russ Feingold last year. This bill would require the Secretary of the Senate to forward a copy of any electronically filed designation, statement, or report to the Federal Election Commission within one working day, ensuring greater transparency.

"Unfortunately, the Senate Majority Leader chose to bring forward a bill that doesn't live up to its title. It was drafted by Democrats behind closed doors. No committee hearings were ever held on this legislation; therefore, there never was an opportunity to make any changes to this bill or mark-up in the committee process before we were asked to consider it.

"The DISCLOSE Act would move away from election laws in this country that treat unions and corporations alike. Instead, it would favor union speech over corporate speech. The bill would provide a clear and unfair advantage to unions, while either shutting other organizations out of the election process or subjecting them to onerous reporting requirements that would not apply to unions. For example, a defense contractor would not be able to finance independent campaign expenditures, but the union representing the contractor's workforce would be able to do so. This unequal treatment is what any campaign finance reform legislation should protect against.

"I am also disappointed that this bill continues to contain so many carve outs and exemptions that favor some grassroots organizations over others. This is discriminatory, unconstitutional and unfair.

"Finally, the Senate should remain focused on the number one issue facing our country: jobs and the economy."