    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book I)]
    [June 5, 1997]
    [Pages 703-704]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Requesting Federal Election Commission Action To End the
    Soft Money System in Domestic Politics
    June 5, 1997

        Today I have asked the Federal Election Commission to act, within
    its current legal authority, to end the soft money system. Currently,
    both parties compete to raise large sums from corporations, individuals,
    and labor unions. There is too much money in politics, and the problem
    worsens with every election. This escalating arms race must stop, and I
    am determined that we will reform campaign finances, by every means we
    can.

    [[Page 704]]

        Such an action by the FEC cannot be a substitute for comprehensive
    campaign finance reform legislation, which is currently before the
    Congress. In my State of the Union Address, I challenged Congress to act
    by July 4th and pass bipartisan reform. That deadline is now one month
    away, and there is still time for Congress to move forward on this
    priority. I call on Congress to pass legislation that institutes
    voluntary spending limits, provides free broadcast time to candidates
    who abide by those limits, restricts special interest contributions,
    addresses independent expenditures, and bans soft money.
        It is clear that the current campaign finance system has been
    overwhelmed by an unprecedented volume of money. If we are to restore
    the public's faith in our institutions and the political system, we must
    reform the campaign finance system. This request to the FEC makes clear
    my determination that, one way or another, we will see reform, and we
    will end the soft money. I want to work in the coming days with Members
    of Congress to pass bipartisan and comprehensive campaign finance
    reform.