[Congressional Record Volume 154, Number 44 (Friday, March 14, 2008)]
[Extensions of Remarks]
[Page E428]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       INTRODUCTION OF THE POLITICAL INTELLIGENCE DISCLOSURE ACT

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                    HON. LOUIS E. McINTOSH SLAUGHTER

                              of new york

                    in the house of representatives

                         Friday, March 14, 2008

  Ms. SLAUGHTER. Madam Speaker, today, I am proud to join my friend and 
colleague, Brian Baird, in introducing the Political Intelligence 
Disclosure Act. By requiring political intelligence firms to make their 
activities known in the same way lobbying is reported, this bill will 
help to bring transparency to the growing world of political 
intelligence.
  Political intelligence firms were first established in the 1970s and 
have been operating since then without regulation. This industry 
focuses not on influencing Congress, but on gathering information on 
forthcoming legislative action in order to give their clients an 
advantage over other investors. This information is then used to 
influence decisions on stocks, securities and commodities. Currently, 
firms conducting political intelligence are not required to disclose 
their clients or earnings. But the bill we are introducing today would 
change that and require the same disclosure from political intelligence 
firms as from lobbying firms.
  With leading experts noting that political intelligence businesses 
have quadrupled in size since 2003, these businesses are now emerging 
as a key factor in the lobby industry, and should be regulated 
accordingly. Such an important and increasingly relevant business 
should certainly be required to make its activities known to the 
public.
  Additionally, there have been reports that employees of political 
intelligence firms have been attending meetings related to legislation, 
essentially posing as lobbyists. By requiring disclosure of these 
firms, this bill will ensure that people attending meetings where 
legislation is discussed make their intentions known and their goals 
clear.
  The Political Intelligence Disclosure Act will bring necessary 
accountability to this growing field, and I am proud to be an original 
co-sponsor. We must make political intelligence firms accountable and 
transparent. This important bill will do just that. Madam Speaker, I 
urge my colleagues to cosponsor this bill today.

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