[Weekly Compilation of Presidential Documents Volume 36, Number 26 (Monday, July 3, 2000)]
[Page 1543]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Congressional Action on Reporting and Disclosure 
Requirements for Political Action Committees

June 29, 2000

    The Vice-President and I applaud the House and Senate for the broad, 
bipartisan approval of legislation to establish reporting and disclosure 
requirements for section 527 organizations, the so-called stealth PAC's. 
I commend the sponsors from both sides of the aisle and from both 
Chambers of Congress--including, Senators McCain, Lieberman, and 
Feingold and Representatives Doggett, Moore, Castle, and Houghton--for 
their leadership in addressing backdoor spending by these outside 
organizations.
    Passage of this bill proves that public interest can triumph over 
special interests, and I look forward to signing it as a first step 
toward meaningful campaign finance reform. There is still time this year 
to enact more comprehensive reform, and I renew my call to Congress for 
immediate action on the Shays-Meehan bill in the House and the McCain-
Feingold bill in the Senate to restore the public's faith in the 
integrity of our election system.