[Congressional Record (Bound Edition), Volume 152 (2006), Part 4]
[Senate]
[Page 4287]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1030
                    CLOSE THE LOOPHOLE ON 527 GROUPS

  (Mr. McHENRY asked and was given permission to address the House for 
1 minute.)
  Mr. McHENRY. Mr. Speaker, what we have today is more liberal lunacy. 
Billionaires like the Daddy Warbucks of the Democratic Party, George 
Soros, are pushing their left-wing agenda by funneling hundreds of 
millions of dollars through shady organizations called 527 groups.
  Section 527 groups operate outside of campaign finance laws by 
spending hundreds of millions of dollars on ads and partisan voter 
recruitment efforts with no oversight and no accountability.
  Mr. Speaker, $370 million flowed through 527 groups in the last 
campaign election cycle, and this is outside of campaign disclosure. So 
much for taking big money out of politics.
  Over one-fifth of the $370 million channeled through 527s came from 
four individuals. This is money laundering on a scale that would make 
even Tony Soprano blush.
  Mr. Speaker, it is time that we close this loophole on 527s and open 
transparent and accountable campaigns to the American people.

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