Campaign Finance

RNC Loses Bid for Corporate Cash

Looks like Michael Steele will have to find his money elsewhere: On Friday, a federal court rejected the Republican National Committee’s bid to raise soft money, the unlimited campaign contributions from corporations and individuals that the McCain-Feingold law banned in 2002. The RNC had argued that it should be able to accept unlimited corporate and individual donations in non-federal elections and campaigns. The U.S. District Court said, however, that it lacks the authority to throw out the soft-money ban that the Supreme Court has upheld.