DISCLOSE: The Sequel. Sen. Chuck Schumer (D-N.Y.) has introduced a new version of the DISCLOSE Act in the Senate that reportedly tones down some of the more objectionable portions to make it more acceptable to the waffling moderates. Politico has the story, here. Sen. Harry Reid (D-NV) pegged next Tuesday for a vote.

Rangel’s woes get a little bit deeper. Rep. Charlie Rangel (D-N.Y.) has been plagued by continuous stories regarding potential ethics violations for the past two years. Thursday, the House Committee on Standards of Official Conduct (Ethics Committee) voted to instigate a panel to examine the issues further.  Eric Brown does a nice round-up of preliminary stories from various sources. The Ethics Committee’s public report on the matter is here.

In Campaign Finance news, the FEC approved several soft money expenditures. Commonsense Ten and Club for Growth were both approved for unlimited “soft money” expenditures in 2010. Roll Call (subscription) has more on the issue.

Salazar disapproves of the Revolving Door. The Washington Post had reported that oil and gas lobbyists were overwhelmingly swinging through the House/Senate/Executive branch revolving door. In a meeting with lawmakers tasked with oversight, Salazar expressed his disapproval of the practice of special interest groups.

Quote of the Week:

“There’s chatter out there that they’re saying there is not going to be disclosure … Anybody that comes away from here saying that [FEC allowing soft money expenditures] is going to undercut disclosure is just not reading what is going on.” – Republican FEC Commissioner Donald McGahn, Roll Call, 7/23/2010