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Bush and McCain will sue over 527 funding

The Washington Post reports: President Bush and Sen. John McCain (R-Ariz.) joined forces yesterday to seek legal action to reduce the influence of "527" political organizations, but the two remained in disagreement over whether Bush should condemn a television ad by the group Swift Boat Veterans for Truth attacking John F. Kerry's Vietnam service.

Bush called McCain en route to a campaign event in New Mexico to say his campaign would go to federal court to force the Federal Election Commission to prevent the independent groups -- named for the section of the tax code that governs their activities -- from raising and spending money in unlimited amounts.

McCain said he secured Bush's commitment to support legislation to regulate the groups. The organizations have used a loophole in the new campaign finance law -- of which McCain was one of the two principal architects -- to become significant and controversial actors in the campaign on behalf of both the president and the senator from Massachusetts.

Separately, Kerry agreed to take off the air a commercial using footage from a debate during the 2000 GOP primaries in which McCain directly criticized Bush for allowing supporters of his to question McCain's commitment to veterans. McCain had asked Kerry to stop running the ad. -- McCain Joins Bush to Rein In Groups (washingtonpost.com)