In the Nation's Interest
Supreme Court Decision on Citizens United Case is a Major Setback for Campaign Finance Reform
CED President Charles Kolb expressed concern over today's decision of the United States Supreme Court in the Citizens United case. The Supreme Count's decision abandoned restrictions on corporate spending in federal election campaigns, effectively reversing major portions of the 2002 McCain-Feingold Act.
"The Committee for Economic Development has worked for more than a decade to achieve and enforce sensible campaign finance reform. Today's Citizens United decision is disappointing on many levels: the five Supreme Court justices who supported this decision have now opened the door to massive spending in the election process by American corporations; they have abandoned years of anti-corruption work; and they have ensured that the voice of average voters will be further reduced in our federal election system. Polls conducted by CED and others consistently show that a strong majority of business leaders favor campaign finance reform and limits on corporate spending on elections. I am hopeful that the Congress will again step in and enact campaign finance reform that reduces the influence of large contributors in federal elections," said Charles E.M. Kolb, CED President.
In 2005, a CED-sponsored poll (conducted by Zogby, International) found that 78% of business leaders supported campaign finance reform, and 53% strongly supported additional contribution limits for federal campaigns.