A bill being floated by Sen. Ted Cruz and Rep. Mark Meadows would centralize the campaign finance system, increase transparency of donations, and effectively put an end to super PACs.
The bill, titled the SuperPAC Elimination Act of 2017, would remove caps on individual contributions, which are limited to $2,700, and require disclosure within 24 hours, creating, what Cruz believes would be, a more “simple” and direct system that makes campaigns more accountable and transparent.
“It follows principles of free speech and transparency. It is all about empowering citizens to speak and ensuring transparency,” Cruz told the Washington Examiner. “Candidates should be defining their own messages rather than having their messages effectively subject to the whims of the campaign finance system and the super PACs that it has created.”
The timing of the announcement is curious from Cruz, who finished second in the GOP primary and had his own issues concerning super PACs. Specifically, Cruz had issues due to his super PACs’ messaging as he had a cadre of groups backing his campaign. One was bankrolled by Tony Neugebauer, a top Cruz donor who poured $10 million into Keep The Promise II, only to take back $9 million of those funds at the end of the campaign, leaving them unspent.
It comes in the wake of the presidential campaign and less than two months before President-elect Trump is set to assume the presidency after speaking out against super PACs throughout his campaign. Cruz, however, disputes the impact of the timing, noting that he introduced a similar measure in 2014.
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ICYMI: My bill with @SenTedCruz to ensure our campaign laws follow the principles of free speech and transparency.https://t.co/aXJZ6moy7w
— Mark Meadows (@RepMarkMeadows) December 12, 2016
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