Campaign finance reform gains momentum News
Campaign finance reform gains momentum

[JURIST] Senator John McCain [official Senate website] announced Wednesday that he was launching a new initiative to tighten campaign finance laws [press release] to curb big interest-group donations to congressional and presidential campaigns. McCain appears to have gained an ally in Senator Trent Lott [official Senate website], chairman of the Senate Rules Committee. Lott voted against campaign finance reform in 2002, but changed his opinion after the recent Presidential election. McCain's latest proposal would limit tax-exempt partisan organizations, also known as 527s [Center for Public Integrity FAQ], by requiring registration with the Federal Election Commission [official website] if they raise more than $25,000 a year. The proposal [PDF] known as the 527 Reform Act, must be approved by Lott's committee before it goes to the Senate floor for a vote. AP has more.

THIS DAY @ LAW

Laws of Burgos put into effect

The Spanish Crown put the Laws of Burgos into effect on December 27, 1512. These laws governed the relationship of Spanish settlers with the indigenous peoples of the Caribbean. The laws established the encomienda system of labor, promoted conversion to Catholicism, and safeguarded the indigenous peoples from physical abuse.  However, historians argue that the laws were ineffective at protecting the rights of the indigenous population. Learn more from the Library of Congress.

Prohibitionist Carrie Nation carried out her first public bar smashing

On December 27, 1900, militant Prohibitionist Carrie Nation carried out her first public smashing of a bar, at the Carey Hotel in Wichita, Kansas. Nation argued that destroying bars was an acceptable means of battling the liquor trade since the Kansas Constitution prohibited alcohol. Learn more about Carrie Nation.

World Bank created

On December 27, 1944, the World Bank was created during the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire, USA. Learn more about the history of the World Bank.