> The house and senate have now both passed the Shays-Meehan campain finance
> reform bill. Now, let's just hope that Georgey boy signs it.
Personally I don't like it... but we'll just show the facts for now and
leave the personal opinion out of things for the moment. Oh, and yes, the
President has indicated that if it passes the Senate (where it has to be
re-voted since there were several changes in the House version) that he will
sign it into law.
>From Allpolitics.com, the bill that was passed provides the following:
-- National political parties are banned from raising or spending so-called
"soft money." This type of funding is largely unregulated and comes from
unlimited contributions from corporations, labor unions, and wealthy
individuals.
-- It prohibits labor unions and corporations from using "soft money" to
fund advertising that mentions a federal candidate within 60 days of a
general election and 30 days of a primary. While these organizations can
finance some ads through political action committees, they must disclose the
names of their donors.
-- It raises from $1,000 to $2,000 the individual or "hard money"
contribution to federal candidates.
-- It triples the amount of "hard money" a candidate can receive who is
running against a wealthy, self-financed opponent.
-- It allows state and local parties to raise and spend up to $10,000 in
"soft money" from each donor for get-out-the-vote efforts and a few other
party activities.
For those who don't know the difference (I didn't) a sidebar had the
following definitions -
SOFT MONEY:
FROM: Individuals, corporations, unions and
other advocacy groups
TO: Political parties
AMOUNTS: Unlimited
HARD MONEY:
FROM: Individuals or political action
committees (PACs) (Corporations
and unions barred from contributing,
but can form PACs)
TO: Candidates
AMOUNTS: Limited
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