Whilst I am not a member of this august body, I would like to interject:
As many of you know the relevant text in Article V reads:
Repealing this would remove some constitutional concerns surrounding bills that have been proposed in the past and today, however, I fear that an enumerated powers/free speech challenge to a bill regulating political parties could still be mounted in the absence of this text.
Therefore, I must encourage a Senator to amend this legislation so that it includes a clause such as:
The Senate shall have power to categorise and regulate political parties and to assign benefits to parties as it sees fit.