The Moneybags Bill McCain-Feingold will invite more money into politics, not less. Believing McCain-Feingold to be a fine piece of reform legislation, the Common Cause acolytes are certain that the best way to enshrine their reformist impulses into law is if both houses of Congress pass the same bill. House Republicans would be well advised to take a closer look at McCain-Feingold.
Wealthy candidates are able to contribute without limitation to their own campaigns.
This exception results from the Supreme Court's ruling in Buckley v. Valeo . The Court held that the only constitutionally acceptable ground for regulating campaign financing is to control corruption or its appearance. Therefore, no law can limit how much candidates contribute to themselves. The Court rejected as unconstitutional any limitations on contributions or expenditures based on reasons other than the prevention of corruption. Recognizing that the millionaire exception was etched in constitutional stone, the Senate sought to mitigate its perceived unfair effect by allowing poorly funded opponents of self-funding millionaires the right to seek money in big chunks from wealthy contributors.