Sen. Chris Dodd (D-Conn.) introduced a constitutional amendment today to overrule a recent Supreme Court decision on campaign spending.



The court ruled 5-4 last month in Citizens United v. FEC that Congress cannot regulate independent expenditures by corporations and possibly labor unions. The ruling could dramatically increase third party spending on elections.



Dodd's amendment, co-sponsored by Sen. Tom Udall (D-N.M.) would explicitly grant Congress the authority to regulate campaign fundraising and expenditures for federal elections.



The amendment would also let states regular such activity in their own elections.



"I strongly disagree with the Supreme Court’s conclusion that money is speech, and that corporations should be treated the same as individual Americans when it comes to protected, fundamental speech rights,” Dodd said in a statement.



Dodd and Udall said they will also support "interim legislative efforts" to damper the impact of the ruling, including requirements that corporations disclose their campaign spending.



To pass, Dodd's amendment must pass both Houses with a two-thirds majority and be ratified by three-quarters of the states.



