Fred Thompson, running for President as the "plain-speaking consistent conservative," was asked about campaign finance reform by Laura Ingraham on her radio show the day after his Presidential announcement. She said, "One of the things that also happened in the Senate was McCain-Feingold and it was initially called McCain-Feingold-Thompson. Of course that's campaign finance reform. As you know, Senator Thompson, the Supreme Court has struck down part of that as unconstitutional on First Amendment grounds, you know, issue ads that you can't run before a general election or a primary contest, which for conservatives like me are just anathema to the First Amendment. You now say that you see unintended consequences resulting from campaign finance reform. Would you today tell us that you made a mistake in supporting campaign finance reform?"
Senator Thompson responded that he "didn't think it is a good idea" for corporations and labor union to give "large sums of money to individual politicians." But this is not what Laura had asked, so she tried again: "What about the issue ads?"
Seeing the need to shift his approach, Thompson said: "Well, that's a different story. I'll get to that in a minute" and he then explained, in a long rambling paragraph, that he opposed "soft money," which "poured" in and is "called bribery." "We wanted to do away with that." Then he said: "Now, they added on something that was a mistake and that is the issue ads that you were talking about and I voted for all of it. So I support the first part but I don't support that."
What is one to make of this? Apparently, in a flash of revisionist history, Senator Thompson thought it was a "mistake" to restrict issue ads that others added to McCain-Feingold over his opposition. But he reluctantly supported the whole bill anyway.
While it is certainly true that Senator Thompson supported McCain-Feingold in total, his support was not reluctant. He did not oppose adding regulation of issue ads, and he hardly viewed such hyper-regulations at the time as a "mistake." Indeed, McCain-Feingold was originally called McCain-Feingold-Thompson for a reason. Senator Thompson was widely known as "McCain's strongest Republican supporter" during his years in the Senate and Mark Salter, Senator McCain's chief of staff, declared in 2001 that "if McCain-Feingold passes, it will not have happened if it weren't for Fred Thompson." McCain-Feingold did pass in 2002 and even survived a legal challenge in 2003, but the issue ads restrictions were largely struck down early this summer.
This is the real story of Fred Thompson's adamant support for McCain-Feingold-Thompson and its regulation of issue ads by advocacy groups.
The Thompson Investigation