WASHINGTON, April 29 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement regarding the bipartisan, bicameral DISCLOSE Act, a legislative proposal presented by Congressmen Chris Van Hollen, Robert Brady, Mike Castle, Walter Jones, and Senator Charles Schumer  in response to the Supreme Court's ruling in Citizens United v. FEC:

"The DISCLOSE Act is essential to ensuring that the American people – and our democracy – are not overwhelmed by special interest money and influence in our elections.  In its decision in the Citizens United case, the Supreme Court opened the floodgates to unrestricted special interest campaign donations.  Congress must act to ensure that the bank accounts of Wall Street and insurance companies will not drown out the voices of America's voters.

"This legislation restores transparency and accountability to our campaigns, and ensures that Americans know who is really behind political advertisements.  This bill requires corporations to stand by their ads in the same way candidates do, and prevents foreign-owned entities from participating in our elections.  It prevents the use of taxpayer dollars to sway elections, and sets high standards for financial disclosure by outside groups seeking to influence our democratic process.

"In our democracy, the outcome of elections must be left to voters – not special interests.  I applaud Congressmen Van Hollen, Brady, Castle, and Jones for taking the lead to address this challenge, and I encourage members of both parties to join them in the fight to preserve and protect the rights and interests of all Americans."

SOURCE Office of the Speaker of the House