Remarks on campaign finance reform legislation and an exchange with reporters

Weekly Compilation of Presidential Documents, Oct 13, 1997

It's a simple thing. The cost of communications have overwhelmed the capacity of the system as it was intended to operate. The FEC created this soft money loophole. It has become the way of getting access to virtually unlimited communications. We have to close the loophole. And we have to close it for all on a fair basis. For me, I could give it up easily, but I don't think it would be right for me to put the people that agree with me about what's best for America at an even greater disadvantage than they're going to be. And it doesn't affect me personally, but that's been my position.

Q. Thank you Mr. President.

The President. Thank you.

NOTE: The President spoke at 10:06 a.m. in the Roosevelt Room at the White House. In his remarks, he referred to Ann McBride, president, Common Cause; and Harold Ickes, former Deputy Chief of Staff to the President.