Fundraising expansion slipped into spending deal could power financial bonanza for parties – The Washington Post

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.

Under the language in the bill, a couple could give as much as $3.1 million to a party’s various national committees in one election cycle.

While there would be some restrictions on how parties could use those donations, the creation of new, wider lanes for money to travel into the parties would be a major boon, campaign finance experts said. The expanded avenues for giving would dramatically undercut some of the last remaining provisions of the landmark McCain-Feingold Act, which curtailed the ability of parties to raise huge, unregulated sums.

via Fundraising expansion slipped into spending deal could power financial bonanza for parties – The Washington Post.