LIVE: Bernie Sanders makes MAJOR announcement

Senator Sanders asserts that the American political system is fundamentally broken and corrupt, largely controlled by the billionaire class. He highlights that 60% of Americans struggle paycheck-to-paycheck while the government prioritizes wealthy campaign contributors. Billionaires can spend unlimited amounts through Super PACs to elect their preferred candidates and defeat opponents, effectively turning the government into a 'wholly owned subsidiary of the oligarchs.'

Sanders states, 'The American political system is broken. It is corrupt. It is significantly owned by the billionaire class... our government is well on its way to becoming a wholly owned subsidiary of the oligarchs.' He cites Elon Musk spending $280 million to elect Donald Trump and 100 wealthiest people spending $2.6 billion in the 2024 election cycle.

Senator Sanders and Congresswoman Lee introduce legislation designed to curb the power of Super PACs. The 'Abolish Super PACs Act' would limit individual contributions to Super PACs to $5,000, preventing billionaires from pouring unlimited funds into elections. This aims to end the era of unlimited spending and shift power back to the electorate, ensuring that wealthy interests cannot bypass existing campaign finance guardrails.

Sanders explains, 'the Abolish Super PACs Act would limit individual Super PAC contributions to $5,000. Billionaires would not be able to pour huge amounts of money into Super PACs.' Lee adds that it would ensure millionaires, billionaires, and corporate interests 'would no longer be able to get around the guardrails, the limitations that everyday individuals like you and I have.'

The speakers argue that the influence of big money is not merely a procedural issue but has tangible, detrimental effects on the lives of working people. They link the lack of universal healthcare, the stagnant minimum wage, and inaction on climate change directly to the power of pharmaceutical companies, insurance lobbies, and corporations that spend heavily to protect their interests, leading to policies that harm the majority.

Sanders asks, 'If we are the only major country on Earth not to guarantee health care to all, why is that? Do you think it may have something to do with the power of the pharmaceutical industry and the insurance companies who spend zillions of dollars making sure we don't move to a Medicare for all system?' He also connects it to the 'starvation minimum wage' and inaction on climate change.

Recognizing the difficulty of passing legislation that challenges the wealthy elite, both speakers emphasize that fundamental change must come from the grassroots. They call for millions of people to stand up and demand an end to the corrupt campaign finance system, using the bill as an organizing tool to hold candidates accountable and build a movement that can overcome the financial power of special interests.

Sanders states, 'the way we do it is the way we bring about change and always have brought about change is that at the grassroots level. That millions of people stand up and demand an end to a corrupt campaign finance system.' Lee adds, 'every major change that has happened in American history, it has come from the people.'