Senate Majority Leader Trent Lott, R-Miss., said he liked an alternative that would limit, not ban, soft money. Sen. Mitch McConnell, who opposes McCain's proposal, also endorsed the cap.
Senators hope to reach a compromise on campaign donation regulations by the end of the week.
McCain, R-Ariz., continued to press for a full ban on soft money, the loosely regulated, unlimited donations that unions, corporations and individuals make to political parties. The plan that he and Sen. Russ Feingold, D-Wis., are sponsoring does not increase the amount that an individual can contribute to a candidate. R-Neb., which the White House has encouraged, does not go far enough. We are threatening incumbency. Have no doubt what is at stake here.