Independent Groups Posed to Attack Nominees
Sen. John McCain is apparently ready to use public financing. But Democratic Senators Barack Obama and Hillary Clinton are not saying anything yet, especially considering how much money they've been able to raise so far. (Obama raised more in the past two months than McCain will get from the Federal Election Commission for the fall election.) That's because they might need every penny of it to fight back the attacks of the 527s.
The 527s are "loosely regulated political organizations that can raise 'soft money.' " Remember Swiftboat Veterans and POWs for Truth? The Democrats sure do. That particular 527 was so successful that it actually spawned a verb to describe its effect - being swiftboated: an ad hominem attack or smear campaign.
The Boston Globe reports that the 527s on both side of the political divide are getting ready to attack either the eventual Democratic nominee or Sen. John McCain.
"The new GOP group is still in embryonic form, Republicans strategists say, but it is being led by operatives who ran the 2004 Republican group Progress for America, and will probably be funded at least partly by 'alumni' of the Swift Boat Veterans for Truth, the group that used TV ads four years ago to challenge Kerry's well-documented heroism in Vietnam.
"One Republican strategist familiar with the plans said Republicans expect Senator Barack Obama, who leads rival Hillary Clinton in the Democratic race, to be their opponent and have begun assembling material to turn voters against him."
Regular campaign finance rules limit donations to $2,800 per individual. But 527s, named for a section of the tax code, use a loophole in the law that allows independent groups to operate more freely, permitting unlimited donations.
While the Globe says it's too early to get an exact figure, "527s, nonprofit organizations, and unions appear poised to spend at least $500 million combined to help swing the election to the candidates they favor, according to analysts and news accounts."
The possibility of attacks by 527s, particularly over his relationship with the Rev. Jeremiah Wright, has lead Obama to adopt a wait and see attitude before he commits to public financing, especially in a year when it looks like he could raise enough money independently to combat their influence.
12:43 PM ET | 04- 8-2008 | permalink
