(FORTUNE Magazine) – As a leading campaign-finance lawyer at D.C.'s Patton Boggs law firm, Ben Ginsburg has spent a lot of time pondering the new reforms that were signed into law in late March and take effect after Election Day. The 50-year-old represents the Republicans' fundraising committees in the House and the Senate and faces a future where so-called soft money is banned. But having served as George W.'s top lawyer in 2000 through the 36-day recount ordeal, Ginsburg also knows a thing or two about adversity. FORTUNE caught up with Ginsburg to see what the new law really means for donors, politicos, and parties.

Q: Will donors still be able to pour as much money as they please into the political system?

A: More or less. The unlimited donations to party committees called soft money will be banned, but there will be lots of other opportunities. Congress has shut some doors and opened others.

Q: Tell us about the open doors.

A: You'll see the creation of new, large membership organizations that will provide money, manpower, and a message for like-minded candidates (think: the Committee for Americans with Proper Beliefs). Existing groups ranging from the Sierra Club to the National Right to Life Committee will also thrive and prosper.

Q: What about the national party committees?

A: They will have fewer resources, so more giving will shift to state and local levels. State election laws allow the creation of different kinds of party-affiliated groups for federal and local candidates.

Q:.Will it be harder to track money?

A: Yes. Now the records are centralized in Washington, but many of the new vehicles that Congress has allowed to spring up won't have to file reports with the Federal Election Commission.

Q: Say I want to support a candidate; will I be more constrained?

A: You will actually be able to contribute more money directly to federal candidates than you could before the "reform"--$2,000 an election, up from $1,000 now. Congress decided that people with means should play a greater role in the political process.

Q: What will the reforms mean for the legislative process?

A: It's going to make members of Congress much more beholden to interest groups and less beholden to "big tent" political parties.

Q: So how will all these changes affect your business?

A: It'll be a happy hunting ground for the society of hourly billers. When a new law goes into effect, people turn to their friendly lawyers.