US Pres. Biden Calls For End to 'Dark Money'

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Facts

  • On Tuesday, US Pres. Joe Biden renewed calls for Congress to approve a bill that targets "dark money" — political funds with unknown donors — to solve what he says is a "serious problem" for democracy in America.
  • The bill, known as the DISCLOSE Act, would require political groups to disclose donors who contribute $10k or more during an election cycle and would ban donations from foreign entities.
  • Biden’s comments came one day after Sen. Majority Leader Chuck Schumer (D-NY) announced his plan to bring the DISCLOSE Act to a procedural vote on Wednesday, although it’s unlikely to pass because it needs 60 votes to overcome a filibuster.
  • In a speech in the White House’s Roosevelt Room, Biden scolded Republicans for not supporting “more openness and accountability” on campaign finance issues, while also acknowledging that it’s a problem for both parties.
  • Biden also cited a report from last month that detailed how electronics manufacturing mogul Barre Seid donated $1.6B to Marble Freedom Trust, a conservative nonprofit group. Biden claimed the donation wouldn’t have become public if it hadn't been leaked to the press.
  • The DISCLOSE Act first passed the House in 2010, but it failed twice in the Senate in 2012, led by opposition from Sen. Mitch McConnell (R-Ky.), who’s now the Sen. Minority Leader.

Sources: Al Jazeera, CNN, Newsweek, and Spectrum.

Narratives

  • Democratic narrative, as provided by Rolling Stone. Transparency is a pillar of democratic governance, and "dark money" goes directly against this. An unregulated campaign finance system allows rich businesses to manipulate the system and is as much of a threat to US democracy as coup plots, such as the Jan. 6 attack. Passing the DISCLOSE Act is a must.
  • Republican narrative, as provided by NTU. The DISCLOSE Act is a brazen violation of every American's right to free speech and would create repercussions for organizations that just want to participate in democracy. The bill — which defies significant Supreme Court precedent — is clearly an attempt to retaliate against speakers with "unfavorable" political ideas.