Policymaking in First Amendment area begins with a presumption of liberty. That is, strong reasons must be given to restrict basic liberties.
Mandatory disclosure of campaign finance activity requires such strong reasons. The U.S. Supreme Court has given three reasons for mandated disclosure: to deter corruption, to inform citizens so they can predict what a candidate might do in office, and to help enforce contribution limits.
Not much is known about how the policy of mandated disclosure actually relates to these “state interests.” No one has been much interested in examining their effects because no one much objected. Mandatory disclosure was thought of as the least intrusive means to regulate campaign finance and political activity. Hence, even people inclined to criticize campaign finance regulation were heard saying, “it’s only disclosure.”
Since the agenda of possibilities was limited, alternatives were not considered in light of the costs and benefits of disclosure. Now that’s changing. Dick Carpenter and the Institute for Justice have conducted a survey to learn more about the likely effects of disclosure, especially in the context of a ballot initiative. The results do not encourage complacency about mandated disclosure. The study is well worth a look.
Bob Bauer comments on the Institute for Justice study during his insightful remarks on the fifth anniversary of you-know-what.