Eye On Freedom – Keeping a watchful eye on the preservation of our liberty at home and freedom around the world

The bill would also create a number of expensive barriers for corporations, unions and other outside groups. It includes a “stand by your ad” provision that would require the chief executive and the top donor to the group to include in an ad their names and titles — in some circumstances, twice or three times — and to appear in the ad stating their approval. Opponents of regulation say the disclaimers could take up to half of a 30-second spot.

The bill would require groups putting ads on the air to include a database of spending on their Web sites, an expense that could deter smaller groups. The same information is reported to the government and is available to the public.

Other provisions of the bill go beyond disclosure. Many corporations with foreign ownership would be banned from running ads, along with companies that received federal bailout money and those with government contracts of more than $50,000.

The bill would become effective 30 days after enactment, and sponsors hope it would change rules for the midterm elections in November. That would allow little time for the FEC to write regulations. The commission hasn’t finished rewriting regulations required by the McCain-Feingold law, eight years after it was signed into law.

The bill also has provisions that would bolster the role of national political parties in elections. One little-noted section essentially would remove the limit on the amount of money that parties can spend in conjunction with candidates. Another part of the bill would extend to the parties a benefit now enjoyed only by candidates, the right to buy advertising at the lowest rates offered by broadcasters.

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