RNC Loses Bid To Raise Unlimited Money

[THE MATRIX]

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WASHINGTON — A federal court Friday denied a Republican Party bid to raise soft money, the unlimited donations from corporations and individuals banned by a 2002 campaign finance law. In a separate ruling, judges said a conservative group can raise unlimited sums for independent election ads but must regularly disclose its donors.

In a case brought by the Republican National Committee, a three-judge panel of the U.S. District Court in Washington said it lacks the authority to overturn a Supreme Court ruling that upheld the ban on soft money fundraising by national party committees. That ban is a cornerstone of the so-called McCain-Feingold law and one of the few major parts of the law to survive court challenges.