WASHINGTON (AP) – The Federal Election Commission said Thursday that comedian Stephen Colbert can use his TV show’s resources to boost his political action committee, but he must disclose some major expenses as in-kind contributions from the show’s corporate owners.

Colbert played it straight during his appearance before the commission, letting his attorney do most of the talking while saving his trademark quips for a crowd that gathered outside the commission building after the meeting.

“I don’t accept the status quo,” he told the crowd, brandishing a portable credit card processing machine. “I do accept Visa, MasterCard or American Express.”

Many in the crowd handed Colbert their credit cards or dollar bills as contributions.

Asked what point he was trying to make about corporate America, Colbert did not miss a beat.

“None,” he quipped. “I want their money.”

Colbert, who plays a conservative TV pundit on “The Colbert Report,” is forming Colbert Super PAC, a type of political action committee that will allow him to raise unlimited amounts of money from corporations, unions and individuals. The money will be used to support or oppose candidates in the 2012 elections through independent expenditures such as TV ads. (more…)

Tomorrow, the Supreme Court will take the highly unusual step of convening a special session to rehear arguments in the case Citizens United v. Federal Election Commission.  This case has enormous implications for all Americans, but those of us who are filmmakers who depend on the First Amendment should pay particularly close attention. 

On the last day of the June session, the Supreme Court unexpectedly decided to order a rehearing of our case in order to reexamine two cases that are the pillars of some of the more restrictive provisions of campaign finance law, and that, I believe, are unconstitutional infringements on the First Amendment.  (more…)