It banned a key source of financing for both parties, so-called soft money donated in unlimited amounts to build party strengths, and it limited donations for national candidates to "hard money," subject to annual limits and other rules.
It would not limit donations to state parties.
"Any attempt to limit donations by either individuals or corporations will run into problems.
Among donors, the concern was one of being forced to limit donations when charities need the support the most.
"I said we have got to do the right thing," said Mr. Wamp, who has been a proponent of limiting donations.
Malcolm Turnbull has consistently backed the principle of limiting donations to enrolled individuals, which would ban donations from corporations – Australian or foreign – as well as unions.
The law, signed by Mr. Bush in March, would ban donations to national parties by corporations and unions and sharply limit donations by individuals.
The prime minister has previously backed the principle of limiting donations to enrolled individuals, which would ban donations from corporations – Australian or foreign – as well as unions.
The rules limit donations to political campaigns and require disclosure, and politicians are not supposed to get around them by using organizations that can accept unlimited secret donations.
It limits donations from individuals to $50,000, which is lower than the $250,000 limit set by Mr. Bush and higher than the $100 set by Bill Clinton in 1997.
Mr. Perry's generosity — and impact — is possible because Texas law does not limit donations by individuals to candidates, unlike at the federal level.
