H.J. Res. 38 (114th)
Introduced by Rep. M. Kaptur (D-OH)
Legal Personhood: n/a
Money as Speech: C
The first article of amendment does not apply to the political speech of any corporation, partnership, business trust, association, or other business organization with respect to the making of contributions, expenditures, or other disbursements of funds in connection with public elections.
Congress shall have power to set limits on the amount of contributions that may be accepted by, and the amount of expenditures that may be made by, in support of, or in opposition to, a candidate for nomination for election to, or for election to, Federal office.
A State shall have power to set limits on the amount of contributions that may be accepted by, and the amount of expenditures that may be made by, in support of, or in opposition to, a candidate for nomination for election to, or for election to, State or local office.
Congress shall have power to implement and enforce this article by appropriate legislation.
[Note: This proposal is identical to the one Rep. Kaptur introduced in the 112th and 113th Congresses. Previously, Rep. Kaptur had introduced three proposals in each session of Congress, one for just the first Section, one containing the remaining three Sections and one combining all four Sections. This time Rep. Kaptur has introduced only one proposal containing all four Sections.]
Rep. Kaptur’s proposal is campaign finance reform. It only covers expenditures related to candidates for public office. It leaves issue advocacy on ballot measures and other non-campaign processes untouched. There is an attempt to overturn Buckley and Bank of Boston but it’s incomplete. Unions and non-profits are included in the campaign finance regulatory powers, which is fair and non-partisan, but not explicitly, which makes for a cumbersome explanation. There is no mention of corporate constitutional rights.
Rep. Kaptur’s proposal would be a marginal improvement but it would be a tough sell in most quarters.