FEC Chairman Backs Organizations' Use of 'Soft Money' (527s)

[La_Serpiente]

FEC Chairman Backs Organizations' Use of 'Soft Money'
McCain-Feingold Campaign Finance Law Doesn't Apply to Political Interest Groups, Smith Says

Defying Republican Party demands to rule illegal the plans of a network of pro-Democratic political committees, Federal Election Commission Chairman Bradley A. Smith now argues that these committees should remain free to raise and spend large contributions known as "soft money."

Smith's argument, spelled out in a 37-page proposal to his five FEC colleagues, sharply increases, but does not guarantee, the likelihood that new pro-Democratic groups with multimillion-dollar budgets will become significant forces in the 2004 election and become what amounts to a "shadow" Democratic Party.

One of the new groups, America Coming Together (ACT), has already raised $12.5 million toward an election-year goal of $95 million. Such liberal donors as financier George Soros and Progressive Corp. Chairman Peter B. Lewis have donated $6.5 million and $3.5 million, respectively, to pro-Democratic organizations.

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FEC Chairman Backs Organizations' Use of 'Soft Money'

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[PROGRESSIVE1]

1. I have to say that I support this decision. Like it or not.....

we need MONEY to fight Bushco. McCain-Feingold has left us
in a bad position and we must take any help we can get.

The only TRUE solution to Campaign Finance Reform is to have
all campaigns PUBLICLY FINANCED.