Public Campaign, a non-profit, non-partisan organization working toward comprehensive campaign finance reform, released a position paper today in support of a strong McCain-Feingold bill as an important first step toward extensive reform. The paper warns, though, that even with passage of this legislation, there will still be a long way to go in reforming campaign finance law.

“The huge amount of money that was spent by both parties this past election cycle is a clear indication that reform is a must,” said Executive Director Nick Nyhart. “A strong McCain-Feingold bill that bans soft money and restricts sham issue ads, provides an important first step towards comprehensive reform. But we must not forget that it is just a first step.”

The paper warns that provisions that might be attached to the bill, such as increasing the current limits on hard money contributions and anti-union “paycheck protection” measures, would greatly damage the cause of reform. “McCain-Feingold offers a tremendous opportunity,” said Nyhart, “but passage of a bill that, while closing some loopholes, weakens the system in other ways, could be a step in the wrong direction.”

Public Campaign, founded in 1997, advocates Clean Money, Clean Elections legislation which provides full voluntary public financing for Congressional candidates who agree to spending caps and to forego raising private donations.