Victor Fazio: “I think if we look at this amendment, it is obviously flawed in one sense, and that is that it only covers hard dollars.…”

“I think if we look at this amendment, it is obviously flawed in one sense, and that is that it only covers hard dollars. Triad Management is an organization that has gone out and organized all kinds of soft money bundling activities, including an entity called Citizens for the Republic Education Fund, which gave $2 million in the final weeks of the 1996 campaign to Republican candidates in targeted races all across the country. One of them happened to be, by the way, the gentleman from Pennsylvania (Mr. English). I am wondering why this amendment is directed only at small donors, largely, who are contributing through processes we have just heard described as hard dollars, to the campaigns of candidates. We ought to be attacking soft dollars that are flowing in, bundled by organizations outside the political structure in theory, but in reality tied directly into the political parties, the kinds of campaign expenditures that have benefited many of the Members who now oppose this bill and oppose the soft money ban included in it. Mr. Chairman, I would be much more respectful of this amendment if it were broadly based and took on all the problems of bundling. This one is targeted to kill this bill and perpetuate a soft money political system.”