The FEC has
voted 4-2 to approve the
"Weintraub draft". As I read it, the Weintraub draft forbids the use of soft money for GOTV, fundraising, or ads that "promote, support, attack or oppose" federal candidates.
This is big news. It means that liberal 527s like ACT and the Media Fund will
not be able to use unlimited donations to fund anti-Bush activities. The blog
Soft Money Hard Law is there live at the FEC hearings, blogging away.
For more on this issue, check out Damon's diary -- he's been on top of this vital story from the start. At BushOut.TV, I've put up a new post about the liberal 527 fundraising shortfall and FEC hearings. I've also completed my series on what outside groups are and a list of major outside groups and what they're trying to raise.