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CAMPAIGN FINANCE REFORM HA Even a cursory examination of the news media shows a number of key events that have placed campaign finance reform CFR front and center These include record-setting soft money fund raising by both political parties in the last election the problem of self- funded candidates fund-raising from foreign sources independent expendituresThese issues led the pack but the hearty perennials such as political action committee PAC funding electronic disclosure public funding and the like were also being debated Perhaps CFR is a topic whose time has finally come The campaign finance system is corrupt Spending is out of control and there are various loopholes infederal campaign finance law Money buys access and influence which effectively causes the majority of Americans to have no real capacity toinfluence public policy State and federal legislation is needed to fightcorruption and unjust influence to ensure the publics right to know where acandidates money comes from to enable all candidates to competeequitably in elections and to allow maximum citizen participation in thepolitical process Rock the Vote believes that the McCain-FeingoldCampaign Finance Reform Bill in its current state should be the first piece oflegislation signed into law in 2001 Bolder approaches could include reducingthe duration of political campaigns requiring television and radio stations toair campaign advertising free of charge as a condition for maintaining theirbroadcast licenses barring campaign advertising from the airwavesaltogether or placing strict limits on the amounts of money that can be spentby candidates and any and all of their supporters Rock the Vote supportspassing comprehensive legislation for meaningful campaign finance reform TheMcCain-Feingold bill proposes to end the soft money system by prohibiting candidates and national political parties from raising soft money Soft moneyis a financial contribution intended to be used for issues advertising that doesnot advocate on behalf of or against a specific candidate Political partiescurrently use the legality of soft-money donations as a loophole in currentcampaign finance law finding ways to
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