A Soft Money Loop Hole Closed... How Many Others Remain?

Political Animal Bites Fat Cat

It would appear that one small step toward ethical campaign finance was finally taken in congress... a single loop hole in the handling of so-called soft money has been closed. But how many more loop holes remain open... All of them, of course. Now the Senate has to do its job and approve the same provisions... Anyone want to wager they will chicken out?

The shell game that political professionals play with the campaign laws has taken an encouraging hit in the House. Enough Democrats joined Republicans to pass a bill to plug the egregious soft money loophole used in 2004 to flood the presidential campaign with hundreds of millions of dollars in attack ads and voter drives. These were palmed off as independent advocacy under Section 527 of the tax code. In truth, they were shadow party schemes.

In 2004, Democrats suffered the so-called 527 attack ads on Senator John Kerry by Swift Boat Veterans for Truth. Republicans, in turn, were stunned by George Soros's donation of $24 million to Democratic causes. The House measure would deprive these 527 operations of unlimited financing by treating them as what they are — political action committees that must comply with campaign controls.

In the vagaries of politics, voters were fortunate that Democrats have enjoyed such a lopsided 3-to-1 money edge in the 527 ploys that House Republicans felt alarmed enough to take action. Otherwise both parties might have been content to keep feeding at a soft-money trough that has already produced $425 million in unchecked campaign money.

The bill, sponsored by Representatives Christopher Shays, a Connecticut Republican, and Martin Meehan, a Massachusetts Democrat, presents a rare step toward reform by this Congress. It deserves fast approval in the Senate.