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CED has been at the forefront of campaign finance reform since 1997. Since that time, major battles have been won, including passage of the Bipartisan Campaign Reform Act (BCRA) in 2002. CED was instrumental in achieving this victory by educating and mobilizing business leaders around the need for campaign finance reform and changing the perception, especially in the media, of the business community as supportive of the status quo campaign finance system.
In 2005, CED released Building on Reform, a policy statement which addresses key post-BCRA issues, including the proliferation of "Section 527" organizations. Named for the applicable tax code section, 527 groups have been formed by operatives of both parties to replace the political parties as the new conduits of soft money, thus circumventing BCRA's ban on such contributions. CED provides recommendations in Building on Reform to ensure that 527 organizations that participate in federal elections are subject to the same limits that political parties face in raising money. A critical part of our previous success on campaign finance reform was our ability to recruit over 300 business and civic leaders willing to endorse publicly our recommendations for reform. Therefore, CED launched a campaign to recruit public endorsers of CED's recommendations regarding 527 groups. Nearly 100 prominent business and civic leaders have endorsed CED's plan.
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