As a former war hero, John McCain has endured his share of battles. This week, however, he prepares for a different kind of war; a political one that could change the way political campaigns are financed in the future.

At stake is his McCain-Feingold bill, a piece of campaign-finance legislation that he’s co-written with fellow Senator Russell Feingold, a Democrat from Michigan. The bill calls for a ban on all unregulated and unrestricted donations to political parties made by corporations, unions and wealthy individuals, also known as “soft money.” Last year, soft money donations to the parties broke a record at nearly $500 million.

While the McCain-Feingold bill has passed twice in the House of Representatives, it has not made it out of the Senate, as it was blocked by Republican filibusters both times. And, as the bill enters debate in the Senate for a third time, it faces an interesting opponent: President George W. Bush.

President Bush, who squared off against Senator McCain in Republican presidential primaries, is supporting a separate piece of legislation, offered by Nebraska Republican, Senator Chuck Hagel. Hagel’s bill doesn’t ban soft money contributions, but it does put a limit on such donations to political parties and also imposes a new limit on individual contributions. At issue is whether or not a personal campaign contribution is covered by our Constitution’s first amendment.

Perhaps the bigger issue, however, is how much influence the wealthy in this nation have on the political scene. Do the people with money control our political landscape, or is that a misguided perception? How much of a role do special interest groups play in the election of a candidate? Where do you personally stand on campaign finance reform? Do you think the McCain-Feingold bill is a good one? What about the Hagel bill?