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March 27, 2004


derek cressman

This post was from March 2004, and the way the campaign unfolded reveals the inaccuraties of the post, namely:

1) The McCain-Feingold bill did not make it illegal for advocacy groups to run ads within 60 days of an election. We saw tons of ads like this, from the Swift Boat Vets, the Media Fund, and others. McCain-Feingold did prohibit direct corporate or labor union funding for these ads. But, there were more of these ads than in any other election.

2) McCain-Feingold did not create the 527 loophole. THat was created long before by the FEC. But, McCain-Feingold did nothing to close the 527 loophole either. It's sponsors were naive enough to think that if federal politicians didn't ask for the money, that people wouldn't give it to outside groups.

3) It is therefore wrong to say that McCain-Feingold banned soft money. It merely moved it from parties to 527 groups. However, because of the increases in hard money limits, the parties raised more money than they ever had before.

IF you want to close the 527 loophole, you can visit http://www.therestofus.org/527s.htm


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