Even though soft money has only been around since 1978, and not really exploited until 1988, the problem is getting worse by the minute. Soft money exploded from $86 million in the 1992 election to $260 million in 1996, and it could well triple again to $750 million for the presidential campaign in the year 2000. It is not wild speculation, but reflects the dynamic of a process that, like an arms race, is subject to constant escalation in the demand for money. That is why Congress must ban soft money - now - before it overwhelms our campaign finance laws and our political process.
Former DNC fundraiser Johnny Chung said about the business of campaigns that "the White House is like a subway - you have to put in coins to open the gates." Such explicit sales of access to our highest elected officials, in exchange for huge soft money donations to the political parties, are now commonplace in the political process. But they are far from innocent. Access to government decision-makers does matter. Purchasing access leads to the purchase of influence.
Many examples clearly illustrate this point. Numerous players in the soft money system won themselves huge corporate welfare benefits and special interest legislation from Congress and the government. Common Cause has pointed out many cases of corporate welfare and are available in the links below: Wag The Dollar: Insurance, Securities & Investments Top Industry Soft Money Donors To Republicans; Lawyers & Lobbyists, Labor Are Top Donors To Democrats During First 18 Months Of 1998 Election Cycle.
This hard-hitting study takes a close look at the soft money contributions of top industries to the Democrats and Republicans. Going For Broke: Big Money, Big Banks & Bankruptcy This study examines the tremendous amount of PAC and soft money the consumer credit industry spends in an attempt to influence new bankruptcy legislation.
Drilling For Bargains: Big Oil Fights To Protect Special Royalty Deal & Gives $35.2 Million In Political Donations.
Big oil companies setting their own price for oil when drilling on government lands? Click here for more!
Tobacco Money Continues Its Death Grip On Washington Industry's Biggest PAC & Soft Money Beneficiaries In The Senate Kill Tobacco Legislation Big Tobacco fighting to kill a bill aimed at curbing smoking among children.
Fuel's Gold: ADM'S Million-Dollar Soft Money Donations Help The Ethanol Tax Break Survive One of the largest political donors since the Nixon White House fights to keep their corporate welfare tax break by buying influence in Washington.
Concrete Victories: The Transportation Lobby Is Riding High Pork-filled legislation for the high spending transportation lobby.
Under The Influence: Congress Backs Down To Big Booze The alcohol lobby fights for tax breaks and favorable treatment with big contributions. Tobacco Political Giving Tops $4 Million in 1997, Total Giving Since 1987 Reaches Nearly $30 Million, Common Cause Study Finds
A soft money analysis of the avalanche of money poured into the national parties by the tobacco industry. "Pocketbook Politics": How Special-Interest Money Hurts The American Consumer An analysis of soft money that hurts the American consumer, including the pharmaceutical industry, auto and steel manufacturers, cable TV and pay phone providers, and the peanut and sugar subsidies.
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