Kilmer introduces campaign spending bill

Representative Derek Kilmer (D-Wash.) introduced the Close the Floodgates Act on Tuesday, a bill that Kilmer says looks to reverse the increase in the amount of money donors can contribute to political parties.

The bill will be included in the end of year spending bill and is expected to be signed into law by President Obama.

The legislation would restore provisions that capped individual donor contributions for political parties at $97,200 per year and eliminate new accounts created in the spending bill that allow donors to contribute $777,600 each year to the parties.

“There is already too much money in our politics,” Kilmer said. “Slipping a provision into a must-pass government funding bill that multiplies ten-fold the amount that wealthy donors can contribute to political parties is exactly why folks hold Congress in such low regard.”

In recent years, major Supreme Court decisions have led to increased spending on political campaigns. During the 2014 election cycle, candidates, parties and outside groups raised and spent more than $3.5 billon.

This year the McCutcheon vs. Federal Elections Commission decision struck down limits on overall campaign contributions individual donors can make to candidates, political parties and political committees.

“I introduced this legislation to try to protect the interests of ‘We the People’ and make sure the wealthiest donors don’t get another chance to flood our elections with even more money and undermine our democracy,” said Kilmer.