Soros, Big Democratic Donors Targeted by Republican Measure

March 23 (Bloomberg) -- U.S. House Democrats may have to pay a steep price to enact legislation overhauling lobbying rules: agreeing to restrict donations by some of their biggest backers.

Republicans have proposed a $5,000 cap on federal campaign donations to independent groups known as ``527 committees,'' as part of lobbying legislation soon to be taken up by Congress. The provision could curtail a source of funding from donors such as billionaire investor George Soros that provided tens of millions of dollars to Democratic-leaning groups in the 2004 elections.

Democrats have made allegations of Republican wrongdoing a central theme of this year's campaigns; opposing the ethics legislation because of the 527 provision may leave them open to charges they're not serious about the issue, even after scandals involving lobbyist Jack Abramoff and former Representative Randy Cunningham, a California Republican imprisoned for taking bribes.