[Congressional Record Volume 148, Number 15 (Friday, February 15, 2002)]
[Extensions of Remarks]
[Page E181]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 BIPARTISAN CAMPAIGN REFORM ACT OF 2001

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                               speech of

                        HON. BENJAMIN A. GILMAN

                              of new york

                    in the house of representatives

                      Wednesday, February 13, 2002

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 2356) to 
     amend the Federal Election Campaign Act of 1971 to provide 
     bipartisan campaign reform:

  Mr. GILMAN. Mr. Chairman, I rise in support of the Shays-Meehan 
Bipartisan Campaign Reform Act of 2001. This legislation will close the 
soft money loophole which currently allows unlimited and regulated 
funds from corporations, labor unions, and wealthy individuals to be 
funneled into Federal election campaigns. In addition, it will require 
the clear and full disclosure of those who sponsor election-related 
advertisements.
  As a member of the Government Reform Committee, I have watched with 
growing concern the insidious influence that soft money plays in our 
Nation's election process. The questionable fund-raising activities of 
the 1996 election and the record levels of money spent in 2000 points 
toward a disturbing trend that should be addressed and brought under 
control.
  It has been nearly 30 years since Congress last corrected the abuses 
of the campaign finance system. In those 30 years, political loophole 
artists have learned how to exploit the shortcomings of our Nation's 
current campaign laws. It is therefore our duty to revise and adapt 
those laws to current realities and ensure that the intentions of our 
laws are upheld.
  The Shays-Meehan bill is our best hope for true and meaningful 
campaign reform. It is time for the Congress to act in the best 
interests of our Nation. Accordingly, I urge my colleagues to support 
the Shays-Meehan bill.

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