Congress Battles New Fundraising Rule

Looking to minimize the consequences of the Supreme Court's recent decision allowing corporations to spend significantly larger amounts influencing elections, Congress is taking up legislation to counter some of the ruling's implications. "It's one of the most wrongheaded decisions in court history," Sen. Charles E. Schumer (D-N.Y.) told the Los Angeles Times. A bill revealed Friday by Democrats would ban foreign corporations from spending money on U.S. races, with Schumer naming Venezuela-owned Citgo as an example. And in a seeming attempt to embarrass companies who put up negative or controversial ads, the legislation would require CEOs of corporations to appear at the end of advertisements approving their content, much as presidential ads operate now.