Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : The TRUTH About John Kerry -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (592)	3/2/2004 1:42:56 PM
From: Hope Praytochange	Respond to of 1483

FEC to Consider 'Soft Money' Curbs By Thomas B. Edsall Washington Post Staff Writer Tuesday, March 2, 2004; Page A19 The general counsel's office of the Federal Election Commission has proposed new rules that would threaten plans by Democratic strategists to build a "shadow party" to mobilize voters and run ads this year, according to lawyers and political operatives. The proposed regulations -- subject to revision by the FEC over a three-month rulemaking process -- deal with "527" groups, named for the section of the tax code that governs their activities. These groups are allowed to raise and spend "soft money" on campaign activities once handled by the political parties. Democrats have been more active in raising money for the 527 groups, while Republicans have been more successful at raising "hard money" for individual candidates. Among the counsel's most significant proposals are: • "Allocation" rules that would require the 527 groups to raise at least a quarter, and possibly much more, of their cash in hard-money contributions of $5,000 or less. Hard money is much more difficult to raise, and the Democratic 527 groups had been planning on financing most of their activities with soft money. • Partial bans, depending on the time period, on the use of corporate and union money for voter registration and get-out-the-vote activities with a partisan tilt. • New spending thresholds that would appear to put under FEC regulatory jurisdiction some of the pro-Democratic groups not currently registered at the FEC. The proposed regulations would advance "the Republican goal of silencing their political opposition," a Democratic lawyer heavily involved in the controversy said on background. Republican Party officials, who in this case support tough regulation, voiced varying degrees of support for the counsel's 108-page document that sets the regulatory process in motion. "A cursory review indicates this is yet another warning shot across the bows of the 527s," said Christine Iverson, spokeswoman for the Republican National Committee. Michael E. Toner, a Republican appointee to the FEC, said he strongly supports the counsel's draft, which would allow the FEC to take steps he believes are required by the 2002 McCain-Feingold campaign finance law. The law, named for Sens. John McCain (R-Ariz.) and Russell Feingold (D-Wis.), prohibits the national parties from raising and spending large contributions from unions, corporations and rich people -- soft money. Many top Democratic strategists this year have raised about $20 million, with a goal of $300 million for 2004, for the new 527s, to be spent on television commercials and intensive voter registration and turnout programs in about 17 key battleground states. Democrats set up these organization to take over functions traditionally performed by the Democratic National Committee. Starting in 2003, such organizations as America Coming Together (ACT), the Media Fund and America Votes were formed to raise and spend soft money. The GOP and campaign finance watchdog groups have attacked these groups, charging that they are violating the McCain-Feingold law, and are pressing the FEC to take tough action. No matter what the FEC decides, in certain respects the Republican Party has succeeded in raising doubts about the legality of the 527 groups, doubts that some Democrats say make fundraising more difficult. Jim Jordan, spokesman for ACT, the Media Fund and America Votes, played down the threat posed by the counsel's proposals: "Nothing in the staff draft is particularly unexpected, but obviously we disagree with certain portions of the draft," he said. "We're proceeding as planned with all aspects of our work."