$300 Million From 527 Groups

Hey, nice work Congress in getting the money out of politics:

Unions, corporations and wealthy individuals have pumped nearly $300 million this year into unregulated political groups, funding dozens of aggressive and sometimes shadowy campaigns independent of party machines.

The groups, both liberal and conservative, air TV and radio spots, conduct polls, run phone banks, canvass door-to-door and stage get-out-the-vote rallies, with no oversight by the Federal Election Commission. Set up as tax-exempt "issue advocacy" committees, they cannot explicitly endorse candidates. But they can do everything short of telling voters how to mark their ballots.

Because they can accept unlimited donations from any source, the committees — known as 527s — have emerged as the favored vehicle for millionaires and interest groups seeking to set the political agenda.

Thank you McCain-Feingold.