PolitiFact.com, a project of the St. Petersburg Times, shredded a statement by Sen. Chuck Schumer (and implicitly all other “reformers” using similar demagoguery) that in Citizens United v. Federal Election Commission, “the (U.S. Supreme Court) decided to overrule the 100-year-old ban on corporate expenditures.”
On its trusty “Truth-o-Meter” the site rated Schumer’s comments “Barely True.” Ouch.
Schumer said the Supreme Court “decided to overrule the 100-year-old ban on corporate expenditures.” But he ignores the fact that the ban on direct donations from corporations to campaigns still exists. And the oldest law that specifically banned independent expenditures dated to 1947. You could also argue that we should be dating this from the 1970s campaign finance laws, or even the 1990 Austin case. So he’s exaggerating the scope of the ruling and how long the laws have been on the books. We rate Schumer’s statement Barely True.