U.S. Senator Daniel K. Akaka (D-Hawaii) today voted for S. 27, the Bipartisan Campaign Reform Act of 2001, popularly referred to as the McCain-Feingold bill. Senator Akaka released the following statement:

"With barely 50 percent of voting age Americans going to polls in the past few elections, it is clear that the public has become cynical and distrustful of our electoral system. Enactment of bipartisan campaign finance reform legislation is an important step toward revising our campaign finance laws and reversing the public's negative perception of our political campaign system.

"At the conclusion of the Senate's investigation into allegations of illegal fundraising activities in 1996, I was dismayed both by the violations uncovered and the fact that so many unsavory practices are perfectly legal under the current system. These revelations made the best case for revising our campaign finance laws.

"I congratulate Senators McCain and Feingold for their commitment to bringing this issue to the Senate floor for debate. I also commend Senate Majority Leader Trent Lott for providing the opportunity for a full and vigorous debate on a bill that a majority of his caucus does not support. The past two weeks have shown the Senate at its best; the debate has been civil and enlightening and the bill passed tonight reflects genuine compromise. It is a very good beginning. New contribution disclosure requirements and the ban on soft money to federal candidates and national and state parties for federal election activities are meaningful reforms.

"No one can accurately assess the impact of this legislation on our political parties or assert that Democratic or Republican incumbents and candidates will be given an advantage under the changes proposed to federal election law. However, it is quite clear that the current system is broken and in desperate need of reform. I am convinced that the disclosure of contributions and sponsorship of political and issue advocacy advertisements will make for a heathier political process and help restore public confidence in our elections. In the long term, this will improve our electoral process to the benefit of the American body politic. Senate passage of the McCain-Feingold bill is a giant step toward meaningful bipartisan campaign finance reform."