Brad Smith says Montana's I-194 would silence small businesses while billionaires find loopholes
Bradley A. SmithChairman of the Institute for Free Speech and former FEC chair, speaking to CNBC
Smith, whose Institute for Free Speech represents the groups suing to block I-194, tells CNBC that billionaires will find loopholes in the law and that its real effect is to silence Montana's small and medium-sized businesses.
“Billionaires will find loopholes. All this really does is silence Montana's small- and medium-sized businesses.”
Reporting
Other statements by Bradley A. Smith in this case
- Smith says Citizens United protects new political voicesEarlier: Defended or excused
Where this statement fits
Citizens United: Corporate election spending and free speech
The Supreme Court protected corporate and union independent election spending in Citizens United. Defenders say the ruling protects political speech and association. Critics say it gives wealthy interests excessive influence and undermines democratic accountability.
Source and context
Reporting
About this source
CNBC reports that about 65% of Montana voters approved Initiative 194, the Montana Plan, on Nov. 3, explains how it would strip corporations, unions and nonprofits of the state-granted power to spend money on elections, and quotes the plan's author Tom Moore and Institute for Free Speech leader Brad Smith. The law is set to take effect on Jan. 1.
Archived copy (opens in a new tab)Before the quotation
CNBC reports that opponents call the Montana Plan an unconstitutional end run around Citizens United. Smith asks why the law would let a media corporation speak while denying a nonprofit association of citizens the right to organize around clean water or lower taxes.
After the quotation
The Institute for Free Speech represents the groups that filed the federal lawsuit against I-194 and is also challenging a similar law in Hawaii.
How this statement is classified
The label describes this statement's response within the context above.
Why this label?
The reference point is constitutional protection for independent corporate and union election spending. Smith argues that a law stripping that spending power from Montana groups would silence nonprofits and small businesses, which defends the protection Citizens United recognized.
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Tom Moore calls Montana's I-194 vote huge news in the fight against Citizens United
“*Huge* news in the fight against Citizens United: Montana voters overwhelmingly vote for The Montana Plan, I-194, which will rid the state’s politics of corporate and dark money.”Read statement
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“I'm 100% uh about overturning Citizens United”Read statement
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The Dispute Index. "Brad Smith says Montana's I-194 would silence small businesses while billionaires find loopholes". First published: 2026-11-09. Last updated: 2026-11-09. https://disputeindex.com/events/8452-smith-whose-institute-for-free-speech-represents-the