Money and Elections. Strategies to prevent abuse in elections Impose limits on giving, receiving,...
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Transcript of Money and Elections. Strategies to prevent abuse in elections Impose limits on giving, receiving,...
Money and Elections
Strategies to prevent abuse in elections Impose limits on giving, receiving, and spending political money
Requiring public disclosure of the sources of and uses of political money
Giving governmental subsidies to Presidential candidates, campaigns, and parties including incentive arrangements
Types of Money- soft money Funds given to state and local parties by political parties, individuals, or
PACs for voter registration drives and party mailings
Federal law does not require disclosure of its source or use- has no limits
Although soft money is supposed to benefit only state and local parties, it influences federal election
Mostly illegal now
Purchased access to elected officials influence and the possibility or appearance of corruption
Types of money Hard money laws:
www.fec.gov Search for Federal Election Campaign Finance Law- it’s a brochure
Types of money- hard money Direct contributions to a political candidate
Can only come from an individual or a PAC
Follows the limits set by the FEC
Federal Election Campaign Act (FECA) Established fund for public donations to presidential campaigns (not done
for Congressional campaigns)
Set up rules for the disclosure of all campaign financing and spending information
Established the Federal Election Commission to regulate campaign financing
Post Watergate Reforms 1974 amendments to FECA established realistic limits on contributions and
spending, tightened disclosure, and provided for public financing of presidential campaigns
The law had to be amended after the 1976 Buckley v. Valeo decision However, basic outline of the act remained unchanged
Buckley v. Valeo SC case that challenged most of the provisions in the Federal Election
Campaign Act, as amended in 1974.
SC upheld the law's requirements that candidates, parties, PACs and groups engaging in express advocacy disclose their fund-raising and spending.
SC also affirmed voluntary public financing and limits on individual contributions.
SC struck down, as infringements on free speech, limits on campaign spending (unless the candidate accepts public financing), limits on contributions by candidates to their own campaigns (unless publicly financed)
Bipartisan Campaign Act Enacted in 2002, BCRA constituted the first major revision of campaign
finance law in more than 25 years
Bans unlimited soft money contributions to the national political parties and prohibits federal officeholders from soliciting soft money
2004 McCain Feingold Act limited funds to $2000 in Presidential elections and provided for inflation rises and this act banned soft money
Presidential Election Campaign fund Money from the $3 federal income tax check-off goes into this fund and its then
distributed to qualified candidates to subsidize their presidential campaigns About 10% taxpayers do this
Matching funds- contributions of up to $250 are matched from the Presidential Election Campaign Fund to candidates for the presidential nomination who qualify and agree to meet the contributions such as limits to their own spending Started in 1976
1976-1996 all took it; G.W. Bush did not and since then most have not (see page 269)
Groups 527 groups are not subject to contribution restrictions and do not seek the
election of a specific candidate Must be reported
(Anti-Kerry Groups, Swift Boat Veterans for the Truth, MoveOn.org)
501 (c) groups do not report their contributions and can receive unlimited contributions but cannot spend more than half their funds on political activities
PAC’s Labor unions and corporations were forbidden to donate money to
campaigns so they formed PAC’s to make contributions to candidates
Are regulated by the FEC