The FEC is set to rule today on the legality of soft money-funded 527 issue groups that have been working to boost or blast one candidate or the other. Indications are that the FEC will decide to postpone their decision by another 90 days. Of course, that effectively means that they’re making a decision to leave the current rules in place for the bulk of the 2004 election.
Some Republicans are saying that if the FEC does indeed decide to do that, then they are going to start using 527 groups more intensively themselves, to counter lots of ad buys by MoveOn and other such anti-Bush groups. Republicans (and some Democrats) have been surprised by the amount of money that the Kerry campaign has been able to raise, so they have unexpectedly been put slightly on the defensive regarding fundraising.
By the way, Kerry has launched a new $10 million in 10 days fundraising campaign. You know what to do.