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MARCH 29, 2001

The Senate on Thursday approved 84-16 an amendment to the McCain-Feingold campaign finance reform bill that would increase "hard money" limits and tie it to inflation rates.

The current hard money limit is $1,000 per candidate per campaign and $25,000 total to candidates and political parties. These limits were set 27 years ago in response to the Watergate scandal.

Yesterday's amendment increases the individual amount to $2,000 and the aggregate amount to $37,500. These would rise accordingly to account for inflation.

Experts contend the amendment puts the Republican party at a greater advantage over the Democrats since Republicans traditionally have a greater success rate at soliciting hard money contributions. Republicans fought for the amendment, voted down by 16 Democrats, saying that the $1,000 limit has lost two thirds of its value since its original conception.

National political parties under the proposed amendment would also be allowed to give up to $35,000, twice the current amount, to candidates. This amount would also be indexed to inflation.

The McCain-Feingold bill could face a a final vote in the Senate today.

Get the Story:
Senate Deal Raises 'Hard Money' Limits (The Washington Post 3/29)
Analysts Predict No End to Bush-McCain Rivalry (The Washington Post 3/29)

Relevant Links:
Open Secrets, the Center for Responsible Politics - http://www.opensecrets.org

Related Stories:
Senate defeats campaign spending changes (3/28)
Independent political ads would be limited (3/27)
Campaign finance bill amended again (3/22)
'Anti-Cantwell' amendment approved (3/21)
Campaign finance debate begins (3/20)
Senate gears up for historic debate (3/19)