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Online Stock Market Trading The Federal Election Commission yesterday issued proposed new regulations governing enforcement of the McCain-Feingold campaign finance bill that would make it difficult for the political parties to engineer ways to keep "soft money" flowing into elections.

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Stock Investing Course Both the Republicans and Democrats had been pressing for narrow regulations that would effectively allow the parties and allied groups to continue to raise and spend such "soft money" -- large, unlimited donations from corporations, unions and individuals -- despite the new law banning such contributions.

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Stock Market Game But in 332 pages of proposed new rules, the FEC appeared to side with advocacy groups and lawmakers who urged the commission to adopt the strictest interpretation possible of the law, which is aimed at reducing the influence of big contributors on the political system.

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Stock Investing Game For instance, the FEC has decided that the national parties may not have an exemption to raise soft money for state parties. It also said the parties will not be allowed to spend soft money on voter registration, voter identification and get-out-the-vote activities, as Democrats and Republicans had requested.

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Journal Prime Rate Street Wall The proposed regulations would limit the ability of federal elected officials or "agents" of the national parties to signal, without being explicit, prospective donors that they might want to give money to allied state parties or private voter registration groups.

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Stock Market News "The parties generally took it on the chin," one prominent election law lawyer with ties to the Democratic Party said after a quick review of the document. "They [the commission] are not going to allow any 'winks and nods.' "

Stock Investing Basics The six-member commission, composed equally of Democrats and Republicans, will formally consider the new rules at a meeting Wednesday, and officials said they expect them to be adopted without major changes. Taken together, the new regulations spell out how the most significant overhaul of election law in a generation will work on a day-to-day basis.

Stock Investing Software The new rules reflect a substantial revision of a draft that sponsors of the new law said had undermined the intent of their legislation. The sponsors had strongly criticized the two major parties, in particular the Democrats, for trying to weaken a law passed with heavy support from Democrats in Congress and signed by President Bush.

Stock Market Trading On at least one major question, the FEC put off making a formal decision. The new law attempts to bar the use of soft money to finance political ads clearly beneficial or detrimental to a candidate -- but that are cloaked in more general discussion of an issue. The FEC must decide how to define how far such "issue ads" may go before falling under the provisions of the new law.

Stock Investing For Dummy If the commission fails to adopt a tougher definition than it proposed in an earlier draft, it "would open a monstrous loophole," said Fred Wertheimer, head of the advocacy group Democracy 21, which has promoted the new law.

Stock Market Crash On several other fronts, the FEC appeared to have taken relatively strong action, according to lawyers and officials on both sides of the issue.

Stock Investing Tip Under the new rules, Democratic plans to set up an affiliate of the Association of State Democratic Chairs as a conduit for soft money faces review by the FEC. The agency rejected party requests that only organizations formed after Nov. 6, 2002, the effective date of the law, be subject to investigation to determine whether they are complying with the new law.

Stock Market Chart The regulations would also set a broad definition of "voter identification" to include "the costs of obtaining and enhancing voter lists, creating voter files, and contacting voters to determine their likelihood of voting and voting tendencies and preferences." This definition will severely restrict how state parties could use soft money to pay for up-to-date lists of registered voters, since registration can continue in most states until 30 days before an election.

Online Stock Investing In general, current efforts by allies of the two parties to set up soft money conduits to continue to channel money from donors who had been giving to the national parties will face "a darker legal environment," one lawyer said.

Stock Market Crash Of Jan Baran, a Republican election law specialist, said the commission "appears to be reassessing" its view that national convention "host committees" set up by local business and civic leaders would be allowed to spend soft money. If the commission sets tough rules, it will be a major setback to the convention plans of both parties.

Stock Investing For Beginner One major gain for critics of the existing system, Baran said, is in the proposed definition of an "agent" for a campaign or the parties. An agent will fall under the tough rules of the new law if he or she is working expressly for the campaign or in an "implied" fashion, a relatively broad and inclusive definition.

Finance Journal Personal On the other hand, the FEC decided to define activities taking place "in connection with an election in which a candidate for Federal office appears on the ballot" to fall only in the even year of each two-year election cycle.

Stock Market Report Proponents of stricter rules had generally wanted this definition to cover both years -- effectively, all the time. Instead, the only time off-years will be covered is when there is a special federal election to fill a vacancy, and then it would be limited to the date of the announcement of the special election to the election itself.

Finance Investing Stock Market By Thomas B. Edsall
Washington Post - 6/18/2002

Topic: Campaign Finance Reform

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