Party fundraising provision, crafted in secret, could shift money flow in politics

by - December 11, 2014

A massive expansion of party fundraising slipped into a congressional budget deal this week would fundamentally alter how money flows into political campaigns, providing parties with new muscle to try to wrest power back from independent groups. The provision — one of the most significant changes to the campaign finance system since the landmark McCain-Feingold measure — was written behind closed doors with no public debate. Instead, it surfaced at the last minute in the final pages of a 1,603-page spending bill, which Congress is rushing to pass to keep government operations from shutting down.

Party fundraising provision, crafted in secret, could shift money flow in politics - The Washington Post

Donors could write checks to the new accounts three times as large as the contributions normally allowed to party committees. Initial calculations suggested that the bill would expand the amount that any one person could donate to party committees to more than $777,000 each year from what is now a maximum of $97,200.

Spending Bill Hits Snags, but Congress Thinks It Can Avoid Shutdown - NYTimes.com

The national political parties, weakened by a ban on soft money and the rise of super PACs, could see a financial resurgence due to a last-minute provision buried in a congressional spending deal struck Tuesday. The measure would increase the amount individuals could donate to national parties tenfold by allowing wealthy contributors to give additional sums to separate party arms for financing presidential conventions, building renovations and recounts and other legal proceedings. Those three committees could accept triple the amount individuals can give now to the national parties.

Fundraising expansion slipped into spending deal could power financial bonzana for parties - The Washington Post

 

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