Court rules RNC cannot raise unlimited money

A DC court ruled the Republican National Committee cannot raise soft money, the unlimited contributions from corporations and individuals, which was banned in 2002.

According to the Associated Press, the three-judge panel ruled it cannot overturn a Supreme Court ruling upholding the ban on soft money fundraising by national party committees.

The ban on soft money is one of the few parts of the McCain-Feingold campaign finance law to survive court challenges.

The RNC argued it should be able to raise soft money for state elections, congressional redistricting, legal costs and other activities that it said had nothing to do with federal elections, according to the AP.

Some analysts have predicted the 2010 midterms will be the most expensive elections to date, thanks to the redistricting process that will happen afte the census and the recent Supreme Court ruling that said corporate and labor unions can spend directly on political campaigns.

UPDATED: RNC Chairman Michael Steele said in a statement the committee plans to appeal the decision to the Supreme Court.