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updated: 10/4/2010 1:27 PM

Quinn, officials fight unlimited spending

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NEW YORK -- Elected officials from five states are forming a coalition aimed at fighting unlimited campaign spending by corporations and independent groups.

The group is known as CAPS. That stands for Coalition for Accountability in Political Spending.

It was formed in response to the so-called Citizens United ruling by the Supreme Court. The ruling allows direct corporate funding of televised political ads.

New York City Public Advocate Bill DeBlasio said Monday that CAPS will urge corporations to voluntarily agree not to spend money on political campaigns. It also will press corporations and other groups to disclose all their donors.

Illinois Gov. Pat Quinn is a founding member. CAPS also includes the state treasurers of Pennsylvania and North Carolina; the New York state comptroller; and Los Angeles controller.