WASHINGTON INSIGHT

GOLD RUSH: Senators are raking in political action committee money these days, holding fund-raisers even if they don’t face reelection until 1996 or 1998. Sources say that many lawmakers are rushing to beat an anticipated congressional crackdown on donations by PACs (which are run by corporations, labor unions and other groups). “They’re tapping into PACs before they have to vote against them,” says a union lobbyist. . . . A sample of those collecting money for elections three and five years off: Sens. Tom Harkin (D-Iowa), Paul Simon (D-Ill.), Max Baucus (D-Mont.), Larry Pressler (R-S.D.), Lauch Faircloth (R-N.C.), Paul Coverdell (R-Ga.) and Dirk Kempthorne (R-Ida.). . . . A proposal backed by President Clinton calls for limiting PAC gifts to $1,000 per election, down from the current $5,000. But any reform bill is almost certain to permit candidates to keep PAC money raised before it becomes law. “So senators are saying, ‘Let’s raise everything now that we possibly can,’ ” says a key aide. . . . Because of the uncertainty around ultimate limits, Sen. Bill Bradley (D-N.J.) is not panning for any PAC gold this year. Recently, he raised nearly $450,000 in individual gifts at a New Jersey event.