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WASHINGTON _ Teams of lawyers from the Democratic and Republican Parties have been busy for days, poring over campaign finance legislation, trying to figure out what they can do to raise the millions they need to get their candidates elected.
"Like every political organization, we are assessing how the reforms are going to affect all of our efforts, including fundraising," said Kevin Sheridan, a spokesman for the Republican National Committee.
If the bill championed by Sens. John McCain, R-Ariz., and Russell Feingold, D-Wis., becomes law, nearly $500 million normally raised by lawmakers from corporations, unions and wealthy individuals could be wiped out with the stroke of President Bush's pen.
A mad scramble ensued after the House overwhelmingly passed the measure in the early morning hours of Valentine's Day. Senate opponents said Tuesday they would not try to delay its final approval. Sen. Mitch McConnell, R-Ky., the bill's most ardent foe, said he was not interested in delaying the bill and was ready to reach an agreement to complete action on the measure "in an orderly fashion." And the White House has not issued a veto threat either. …