Sen. John McCain, R-Ariz., joined Sens. Russ Feingold, D-Wis., and Thad Cochran, R-Miss., as well as a number of other senators of both parties, in introducing new campaign finance reform legislation Monday. Sen. McCain said the legislation would limit advertising of special interest groups and thus limit the groups' impact on American politics. The new legislation, like the bill introduced two years ago by Sens. McCain and Feingold, bans soft money contributions to political parties for ads. This legislation, however, would also impose a ban on corporate and union spending on ads mentioning federal candidates within 60 days of an election and 30 days of a primary, and require disclosure of donors for ads that don't mention a candidate by name.
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