Introduction
Introduction
The first major overhaul of campaign finance law in a generation just went into effect. The Bipartisan Campaign Reform Act — the so-called McCain-Feingold law — bans “soft money,” the unregulated funds given to political parties by corporations, unions and wealthy donors. It also regulates funds raised for election-time radio and television advertising by corporations, unions or advocacy groups. A broad coalition of plaintiffs — political party organizations, corporate and labor interests and advocacy groups — say the law is an unconstitutional restriction on political speech and activity. A federal court is due to hear arguments on Dec. 4, in time for a final Supreme Court ruling by summer.
