GOP's Pence-Wynn bill ends/repeals campaign contribution limits

[papau]

http://www.citizen.org/congress/campaign/legislation/pence_wynn/articles.cfm?ID=13426

Fact Sheet on the Pence-Wynn Bill
The Pence-Wynn bill would repeal the aggregate limit on the total contributions an individual can give to parties and PACs in a two-year cycle for federal election purposes – currently $61,400. It would also repeal the aggregate limit on the total contributions an individual can give to all federal candidates in a two-year cycle – currently $40,000.


<snip>
Thus, under the bill, an individual could contribute $4,200 ($2,100 for the primary and $2,100 for the general election) to a candidate in each House and Senate race, or more than $2 million, to all federal candidates in a two-year election cycle. A President, Senator, Representative or federal candidate would be able to solicit this amount – more than two million dollars – from a single donor.
<snip>

Repeal of key BCRA provision on “electioneering communications” by corporations and unions. Congress provided in BCRA that corporations and labor unions could not use soft money to pay for sham “issue ads” attacking and supporting federal candidates in the period close to an election.

The Pence-Wynn bill would fundamentally undermine this provision by allowing trade associations, labor unions and non-profit corporations to use unlimited soft money donations from individuals to pay for broadcast ads about federal candidates close to an election. This would repeal a key provision of BCRA and would allow these groups to again use unlimited soft money from individuals to pay for sham “issue ads” to influence federal campaigns.

[AX10]

1. On the other hand, we Democrats would get alot more money...

too. The only fair thing to do is to have public financing of campaigns. Otherwise, Democrats will always be outspent.

[havocmom]

2. And they will probably laud this as being a help to the little guy

along with defending free speech.

[papau]

3. I think that is indeed the GOP Mantra - all the little folk with $2 mil to

give each election cycle.