Two of the six Federal Election Commission’s (FEC) six Commissioners have proposed a scaled-down version of the controversial proposed rule extending federal campaign finance rules to independent organizations. The proposal, drafted by Commissioners Michael Toner (R) and Scott Thomas (D), excludes organizations exempt under Section 501(c) of the Internal Revenue Code and some Section 527 groups from regulation. However, it incorporates thresholds that are vague and leave exempted organizations open to similar regulatory restrictions in the future.