"McCain, Obama Reach Fundraising Agreement"

Political Wire:

Sen. John McCain (R-AZ) joined Sen. Barack Obama (D-IL) on "in promising to accept a novel fund-raising truce if each man wins his party’s presidential nomination," reports the New York Times.

A spokesman for McCain said that he would agree to Obama’s "proposal for an accord between the two major party nominees to rely just on public financing for the general election. Such a pact would eliminate any financial edge one candidate might have and limit each campaign to $85 million for the general election. The two candidates would have to return any private donations that they had raised for that period."

The Politico writes that "their pledges will also put some pressure on the other leading candidates from both parties to follow."

Cross-posted at www.seattleforbarackobama.com.