Must-read WaPo on the return of soft money:
The national political parties are urging wealthy backers to give them 10 times more money than was allowed in the last presidential election, taking advantage of looser restrictions to pursue million-dollar donors with zeal.
Under the new plans, which have not been disclosed publicly, the top donation tier for the Republican National Committee has soared to $1.34 million per couple this election cycle. Democratic contributors, meanwhile, are being hit up for even more — about $1.6 million per couple — to support the party’s convention and a separate joint fundraising effort between the Democratic National Committee and Hillary Rodham Clinton’s campaign.
In return, elite donors are being promised perks such as exclusive retreats with top party leaders, VIP treatment at the nominating conventions and special dinners organized by contribution rank at this month’s RNC finance committee gala….
The dramatic pricing surge has been driven by a combination of two significant legal changes: the 2014 Supreme Court McCutcheon v. Federal Election Commission decision that did away with a cap on how much a political donor could give in an election cycle, and an expansion of party fundraising tucked into an appropriations bill last December….
Both the RNC and DNC are taking advantage of a measure slipped into a December spending bill that vastly expanded how much national parties can raise by allowing them to collect high-level donations for separate accounts to finance their presidential conventions, building renovations and legal proceedings.
That means that along with $33,400 that a donor can give this year to a party, he or she can give $300,600 more to the additional accounts — a tenfold increase. And a single contributor can give the same amounts again next year, meaning a couple could give a total of $1.34 million during the 2016 election.
The provision was crafted behind the scenes by leaders of both parties with the help of leading campaign finance attorneys, including Marc Elias, now serving as general counsel of Clinton’s campaign. Elias did not respond to a request for comment.
Paul Ryan of the Campaign Legal Center: “Clinton JFC includes 33 state party committees but @CampaignLegal was ‘crazy’ to warn of this in McCutcheon.”