Campaign Finance Showdown

Are limits on “soft money” and “issue ads” valid?

Introduction

The first major overhaul of campaign finance law in a generation just went into effect. The Bipartisan Campaign Reform Act — the so-called McCain-Feingold law — bans “soft money,” the unregulated funds given to political parties by corporations, unions and wealthy donors. It also regulates funds raised for election-time radio and television advertising by corporations, unions or advocacy groups. A broad coalition of plaintiffs — political party organizations, corporate and labor interests and advocacy groups — say the law is an unconstitutional restriction on political speech and activity. A federal court is due to hear arguments on Dec. 4, in time for a final Supreme Court ruling by summer.

At the National Rifle Association's 2000 annual meeting, President Charlton Heston criticizes the pro-gun control stance taken ...

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