It doesn't look like Mike McGavick's $2 million loan to his campaign will mean campaign donation limits will be lifted for Maria Cantwell.

The Federal Elections Commission says in a draft of an advisory opinion that the "Millionaires' Amendment" applies only to McGavick's opposing candidates in the Republican primary, not the incumbent Democratic senator.

The millionaires' clause sets a formula that lifts campaign donation limits for a candidate facing a candidate who self-finances a campaign. Cantwell's campaign argued that McGavick's loan should have meant that Cantwell donors now limited to $4,200 could give $25,200 instead.

The draft says:

The Commission concludes that Mr. McGavick is not Senator Cantwell's "opposing candidate" in the primary election, so Mr. McGavick's expenditures from personal funds made before the primary election will not trigger the provisions of the Millionaires' Amendment for Senator Cantwell or Cantwell 2006. However, any personal funds that were contributed by Senator Cantwell or Mr. McGavick to either of their respective authorized committees before the primary election, and that are retained by either committee for use in the general election campaign, will be expenditures from personal funds in connection with the general election.

So, if McGavick has any of that $2 million left over after the primary that could trigger the Millionaires' Amendment. The draft opinion will be considered by the FEC Aug. 29.

UPDATE: In Arizona, it's the Republican incumbent senator looking to get the "Millionaires'" boost in the primary, according to the Arizona Republic.