The House Administration Committee, acting with the support of the Republican leadership, yesterday approved legislation to dismantle many of the campaign contribution and spending limits enacted over the past 30 years. Under the bill, one donor could direct as much as $1 million in support of a candidate for federal office.
The measure, approved on a 6 to 3 party-line vote, would eliminate the $101,400 ceiling on total contributions to federal candidates and parties by one person. In addition, national parties could give unlimited amounts in support of candidates.
Chairman Robert W. Ney (R-Ohio) said the bill "removes some of the regulatory shackles that hinder the ability of party committees, political action committees and individuals to compete on a level playing field" with independent, largely unregulated political committees called "527s."
Rep. Zoe Lofgren (D-Calif.) retorted: "You can put lipstick on a pig and it's still going to oink, and that's what this bill is, an oinker."
http://www.washingtonpost.com/wp-dyn/content/article/2005/06/08/AR2005060802895.html