Campaign Finance Reform

As the 2008 presidential contest continues, the campaign finance system is in upheaval. Six years after Congress passed the landmark Bipartisan Campaign Reform Act to help curb the influence of unregulated "soft" money in politics, the so-called McCain-Feingold law is facing court challenges and persistent claims that it infringes on free-speech rights. Meanwhile, the system of public funding for federal campaigns is teetering. Presumptive Democratic nominee Barack Obama is poised to be the first major-party presidential candidate to bypass the system in a general election. The Federal Election Commission, which enforces campaign finance laws, has been paralyzed by partisan bickering. And spurred partly by the effects of McCain-Feingold and the shortcomings of the public-financing system, candidates have been turning to small donors, who are responding in unprecedented numbers.