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The Iowa Association of Business and Industry (ABI) opposes it, but we think a bill making its way through the Iowa Legislature is only fair. Senate File 2354 is a response to the U.S. Supreme Court decision allowing corporations to spend freely on political advertisements. It would simply require a corporation to stand up and be accountable if it wants to get involved in politics.

“We are strengthening our laws to prevent a flood of anonymous, negative advertisements funded by big corporations,” Sen. Matt McCoy (D-Des Moines) wrote in his newsletter. “Senate File 2354, which passed the Senate 49-1, will ensure that Iowans have a clearer picture of how big corporations attempt to influence our elections.”

When an individual takes a public stand on politics, it’s a major commitment. If a business has a compelling reason to make a statement about a candidate or a cause, it, too, should proclaim its name and take responsibility.

Some of the bill’s provisions would:

• Add “paid for by” statements – including the name of the corporation or union – on all published and electronic communications.

• Require authorization from the company’s board of directors before spending money to advocate for or against a candidate.

• Require companies to file regular electronic reports with the Campaign Finance Disclosure Board and report within 48 hours of making an independent expenditure.

Lobbyists for ABI opposed the measure. The Iowa Ethics and Campaign Disclosure Board favored it.

The House of Representatives has made some minor amendments to the bill. Considering the way it sailed through the Senate, we would expect this measure to continue on its way and become law.

McCoy represents this as an effort “to make our state the first in the nation to protect elections from unregulated cash from big corporations and shadowy organizations.”

Transparency is hard to achieve in politics, but it’s the right goal.