Lott allies with Feingold and McCain in fundraising reform

U.S. Sens. Russ Feingold, D-Wis., and John McCain, R-Ariz., have gained an unlikely ally in their continuing quest for campaign fundraising reform-Sen. Trent Lott, R-Miss.  

 

 

 

McCain and Feingold will introduce a proposal in the Senate to restrict donations to so-called 527 committees like Swift Boat Veterans for Truth and MoveOn.org, according to a report from Bloomberg.com Thursday.  

 

 

 

Lott previously opposed the original McCain-Feingold legislation but has agreed more reform is necessary after the 527 committees used a tax loophole to bypass donation regulations. 

 

 

 

The 527s raked in more than $414 million in the last election because there were no limits on how much the committees could collect in donations, Bloomberg reported.