Political Fund-Raising Bill a Boon to Incumbents; Media Also to Benefit by about $300 Million
Byline: Donald Lambro, THE WASHINGTON TIMES
Members of Congress would be the biggest winners in the more heavily regulated system of political fund raising and advocacy that the campaign finance bill passed by the House yesterday would create.
The media were another big beneficiary - both in terms of revenue and in terms of influence.
The television industry was expected to reap as much as $300 million in ad revenues from rules changes in the bill, co-sponsored by Rep. Christopher Shays, Connecticut Republican, and Rep. Martin T. Meehan, Massachusetts Democrat. The ban on TV ads by political advocacy groups in the final two months of the campaign also would mean that liberal news broadcasters could have more influence on shaping the views of the electorate.
President Bush would be the single biggest financial beneficiary because the limit on individual contributions to a candidate for federal office would be raised from $1,000 to $2,000.
When Mr. Bush was running as a sitting governor for the Republican presidential nomination in the primaries, 61,000 contributors gave him the maximum $1,000 each. Under the higher limit, he easily could raise a minimum of $120 million from his old contributor base - enough to forgo public funding in the general election in 2004, campaign strategists say.
"The numbers that Bush would be looking at are potentially enormous," said election lawyer Jan Baran.
However, congressional incumbents would be the biggest winners. Their re-election rate was nearly 97.7 percent in the 2000 elections. That likely will climb even higher if the campaign finance reform bill becomes law.
The increased campaign contribution limit is one reason. It will double what most lawmakers ordinarily take in from a contributor base built up over many years, a rich campaign resource that a typical challenger would not have.
In addition, the bill's ban on soft-money contributions - of which two national parties took in about $250 million each - also could mean much less money for the parties to aid challengers in campaigns against House and Senate incumbents.
"Politicians have created a false issue - the influence of soft money - to divert attention from the real purpose of the Shays-Meehan bill. This legislation has only one goal: protecting the jobs of Capitol Hill incumbents," said Steve Dasbach, executive director of the Libertarian Party.
Advocacy groups that seek to influence the outcome of an election in the final weeks of a campaign are the biggest losers and, by extension, the challengers they tend to support. …