McCain said Monday he finds the Supreme Court decision on a McCain-Feingold provision "regrettable."
WASHINGTON (CNN) - Sen. John McCain, R-Arizona, expressed disappointment Monday over a Supreme Court ruling that stuck down a key provision in the McCain-Feingold campaign finance law.
"While I respect their decision in this matter, it is regrettable that a split Supreme Court has carved out a narrow exception by which some corporate and labor expenditures can be used to target a federal candidate in the days and weeks before an election," McCain said.
"It is important to recognize, however, that the Court's decision does not affect the principal provision of the Bipartisan Campaign Reform Act, which bans federal officeholders from soliciting soft money contributions for their parties to spend on their campaigns," he added. "I am grateful to the Bush Administration and all those lawmakers, both past and present, who have joined us in our efforts to put an end to the corruption bred by soft money. Fortunately, that central reform still stands as the law."
In a 5-4 decision on Monday, the court’s majority concluded that the specific guidelines of the bill relating to issue ads — aired mainly on television — were overly restrictive. Under McCain-Feingold, such ads can be banned 60 days before a general election, and 30 days before a primary.
– CNN Ticker Producer Alexander Mooney