Word: feingolds
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...Senate began debating campaign-finance reform last week, the only safe bet was that things would soon get ugly. But by the second day, even that bet was off. And by Friday, astonishingly enough, the bill, which McCain co-authored with Democrat Russell Feingold, hadn't been killed - or even altered all that much - after a week in which an amendment was offered roughly every three hours. Just as unexpected was what did happen - something the Senate hasn't seen much of on any issue: a substantive, thoughtful and generally amicable debate. The kind the framers intended...
...week's end, there were indications that McCain-Feingold could actually pass in a recognizable form. Even the staunchest opponents seemed to have softened their opposition to the bill's central provision, a ban on the unregulated "soft money" that has flooded the political system over the past decade, nearly half a billion dollars in the 2000 election cycle alone. What may have been a breakthrough came after McCain arranged a meeting with one of his foes - Nickles, the Senate's No. 2 Republican. "Tell the senator his friends are here," McCain told Nickles' secretary when he arrived. Their discussion...
...TIME.com: And if it comes through still looking like McCain-Feingold, will Bush sign...
...really know. Bush would probably prefer that nothing come out of the Senate at all, and after that he'd much rather have watered-down reform like Hagel's. But there's also the option of signing some version of McCain-Feingold, and letting it be tested by the courts, on the theory that it would be ruled unconstitutional on free-speech grounds...
...issue itself will probably never die, but for McCain and Feingold personally, this is sort of deemed to be their big moment. If it goes down again, after getting full-Senate debate, they may have to find some new sponsors...