This Newshour post gives background on the issue in the Advisory Opinion sought by the “National Defense Committee.” (AO 2012-27.)

There are now two competing drafts, [corrected links]  one of which would treat none of the ads as express advocacy and the other that would treat some of the ads as such. Competing drafts often mean that there will be a deadlock on this commission.

Marc Elias tweets that a deadlock could have “big consequences” for the last 60 days before the election. And he adds: “3d party groups usually want narrow def. of express advocacy, but triggering it prevents c4 donor disclosure, so wonder what they want here.”

Said Paul Ryan to the News Hour: “I guarantee that if the FEC tells this group that the ads they want to broadcast are not subject to regulation, very large, very sophisticated and very well-funded organizations will take advantage of the ruling to run virtually identical ads.”