The McCain-Feingold campaign finance law affirmed by the Supreme Court locks in place the Republican Party's fundraising advantage over the Democrats and could hasten what partisans and election experts see as a major transformation of the political system.
The Democrats "are going to be in trouble," said Gary Jacobson, a University of California at San Diego political scientist and an expert on money and politics. Unless the party develops new sources of cash to replace now-banned "soft money," "they are going to be at a major disadvantage."
Rep. Thomas M. Reynolds (N.Y.), chairman of the National Republican Congressional Committee, was blunter: "Today's ruling breaks the Democrats' back."
But although the law gives an advantage to the GOP because of its ability to raise still-legal smaller contributions known as "hard money," a number of strategists believe both parties will be weakened in the long run. And the role of "independent" groups acting in behalf of Republican or Democratic candidates, some of which are not required to disclose donors or expenditures, will grow.
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http://www.washingtonpost.com/wp-dyn/articles/A54469-2003Dec10.html