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Gingrich calls for unlimited campaign contributions with immediate reporting

AP reports: Former House Speaker Newt Gingrich says First Amendment rights need to be expanded, and eliminating the McCain-Feingold law's restrictions on campaign contributions would be a start.

Gingrich, a Republican, suggested allowing people to give any amount to any candidate as long as the donation was reported online within 24 hours.

"Just as tax lawyers always succeed in out-thinking the (Internal Revenue Service) because they stay after five and the IRS goes home, the private-sector lawyers will always out-think the (Federal Election Commission) because they stay after five and the FEC goes home," Gingrich told about 400 people at the Nackey Scripps Loeb First Amendment Awards dinner Monday.

Passed in 2002, McCain-Feingold bans unrestricted donations from labor, corporations and the wealthy to the political parties. Gingrich said the reforms have failed and led only to more negative campaign ads via e-mail, television, direct mail and phone calls. -- Gingrich calls for elimination of McCain-Feingold reforms - Boston.com

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