A Sourcebook .
Democracy requires an informed electorate.
Disclosure is not inconsistent with free speech and participation, and has been found by the Supreme Court to be a compelling public interest. The key test for disclosure laws is First Amendment strict scrutiny, not express advocacy. Lobbying or educational issue ads may be, and already are, subject to disclosure without violating the First Amendment. Candidate-specific issue ads aired during the campaign season have an empirically demonstrable effect on voters' consideration of candidates. Voters use disclosure to evaluate a political ad, among other ways, by judging the credibility of its source, according to a well-developed line of empirical studies.