Reform Liberal Lunacy

REFORM LIBERAL LUNACY -- (House of Representatives - March 30, 2006)

The SPEAKER pro tempore (Mr. Fitzpatrick of Pennsylvania). Under a previous order of the House, the gentleman from North Carolina (Mr. McHenry) is recognized for 5 minutes.

Mr. McHENRY. Mr. Speaker, today I rise to speak about 527s. 527s are groups, shadowy groups, that work outside of campaign finance disclosure laws. They work outside of our campaign finance reforms that we passed just a few years ago. They are groups that do not disclose their donors in the way that other traditional campaign groups do. They are groups that have unlimited contributions. They are groups that come in and perhaps target members in different races or candidates in different races, yet they do not actually say who they are.

So today I want to say that as a conservative and as a Member of this House what I am fighting for is openness and full disclosure and allowing sunshine on this political process that we as Americans grow to trust.

Look, in 527s last year, in the 2004 campaign cycle, there is $370 million. $370 million, Mr. Speaker, that flowed through these groups outside of campaign disclosure. These groups can come in and do all sorts of campaigning, but yet they do not have to disclose like a campaign would. So the voters do not know who is working, who is out there putting this information out. $370 million, Mr. Speaker, flowed through 527s. That is more than both the Kerry and Bush campaigns combined spent on the Presidential election. This was done outside of campaign disclosure.

Over one-fifth of the $370 million funded through 527s came from four individuals; one-fifth of the $370 million, four individuals. So much for taking big money out of politics, which is what my colleagues on the left wanted to do through campaign finance reform and many active in politics wanted to do. So much for taking big money out.

We created a loophole that 527s are allowed to use, or have taken advantage of, I should say. Over 80 percent of 527 donors gave at least a quarter of a million dollars. Think about that. That is truly big money in politics, Mr. Speaker. Forty-six individuals gave at least a million dollars to 527 groups. That is even bigger money. So we have created a two-tier system in campaign finance: one where people have to disclose; another where they shadow a group's act.

Look, the biggest big daddy of them all for 527s was a billionaire, what I like to call the Daddy Warbucks of the Democrat Party, George Soros, the Daddy Warbucks of the Democrat Party. He is pumping wads of cash into 527s to influence elections for his left wing agenda. Soros is one of the richest men in the world. He spent $18 million on campaign finance reform to root out big money in politics. How hypocritical is that? He spent all that money for campaign finance reform, yet once campaign finance reform is passed, what does he do? He pumps wads of cash, millions, tens of millions of dollars to those shadowy 527 groups.

Fortune Magazine called him the world's angriest billionaire. He is without a doubt the most powerful Democrat in the country right now. He has a far left agenda and you cannot move any farther left to him until you go down south to Havana, to be honest with you.

Soros is an example of liberal lunacy, and it goes to the heart of what my colleagues on the left have been articulating, which is a culture of hypocrisy. A culture of hypocrisy, Mr. Speaker, that we need to take on as the majority in the House. As a Republican and as a conservative, I am going to point out the culture of hypocrisy that the 527 groups that the left wing in this body are taking advantage of.

That is why I think we need to come forward with true campaign finance reform, make the 527 groups accountable and disclose to the American people who their donors are and abide by the same rules and regulations that all campaign groups must abide by.

The original intent from the Democrats was to root out big money in politics. They said not just a few years ago, not but just a few years ago, `` ..... money that threatens to drown out the voice of the average voter of average means, money that creates the appearance that a wealthy few have a disproportionate say over public policy.'' Yet today, Mr. Speaker, the Democrats and the left in this body are more beholden than ever to big money politics and 527 groups and we will reform this liberal lunacy.

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