Campaign Finance: Money Buys Speech A History of Campaign Finance Where the reforms have gone & Where do you think they should go?

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Presentation transcript:

Campaign Finance: Money Buys Speech A History of Campaign Finance Where the reforms have gone & Where do you think they should go?

Responses to Political Influence & Corruption Gilded Age –Tillman Act (1907) –Federal Corrupt Practices Act (1910) Growing unionism after WWII –Taft-Hartley Act (1947) Campaign abuses and Watergate –Federal Election Campaign Act (FECA 1971) Unrestricted donations & paid advertising –Bipartisan Campaign Reform Act (2002 McCain-Feingold)

Supreme Court Decisions Overturning Campaign Finance Reforms 1976: Buckley v Valeo – Limits on candidates’ contributions to own campaigns overturned – Limits on expenditures overturned 1978: 1st National Bank of Boston v. Bellotti – Ban on spending to influence ballot referendums overturned 2007: Federal Election Commission B. Wisconsin Right to Life -- Issue ads are not contributions 2008: Davis v FEC – Public financing to “level playing field” overturned

2010 Citizen’s United v. FEC 2011 Arizona Free Enterprise Club v. Bennett Public funding programs cannot provide candidates with additional funds if they are vastly outspent by their opponents 2012 American Tradition Partnership v. Bullock Outside money may not be regulated at the state level McCutcheon v, FEC Decision overturned the overall limits that an individual may donate to a candidate or party. Supreme Court Decisions Overturning Campaign Finance Reforms

Chart courtesy of OpenSecrets.org: Creative Commons

Top PACs Giving to Candidates National Assn of Realtors $3,583,955 National Beer Wholesalers Assn $3,017,000 National Auto Dealers Assn $2,729,350 Honeywell International $2,705,373 Lockheed Martin $2,625,750 American Bankers Assn $2,410,875 Intl Brotherhood of Electrical Workers$2,385,314 AT&T Inc $2,381,750 Credit Union National Assn $2,359,500 Northrop Grumman $2,347,250 Operating Engineers Union $2,338,992

Top Outside Spending Organizations, Democratic Congressional Campaign Cmte$68,810,933 National Republican Congressional Cmte$65,307,559 Democratic Senatorial Campaign Cmte$54,588,997 American Crossroads/Crossroads GPS$48,265,282 Senate Majority PAC$47,364,353 National Republican Senatorial Cmte$39,410,239 US Chamber of Commerce$35,464,243 House Majority PAC$29,203,625 Ending Spending$28,382,836 National Rifle Assn$27,341,024

Modified slide based on Open Secrets: Creative Commons

Number of super PACS 1,259 Total raised by super PACS $596,353,551 Total spent by super PACS $345,341,485 Source: Center for Responsive Politics Financial Activity for super PACs 2014

IndependentTotal ExpendituresRaised Senate Majority PAC Liberal $47,364,353 $53,243,991 House Majority PAC Liberal $29,203,625$29,387,033 Freedom Partners Action Fund Conservative $23,898,199$20,604,941 American Crossroads Conservative $22,250,121$28,334,759 Ending Spending Action Fund Conservative $22,213,443$18,828,750 NextGen Climate Action Liberal $19,998,292 $76,099,108 National Assn of Realtors $11,293,435 $10,081,296 Source: Center for Responsive Politics Top Super PACS of 2014

Top Contributors to Super PACs 2014 Thomas Steyer, Next Generation / San Francisco, CA $73,970,834 Michael R. Bloomberg, City of New York, NY / New York, NY$20,129,518 Paul E. Singer, Elliott Management / New York, NY $ 9,798,034 Robert L. & Diana Mercer, Renaissance Tech / East Setauket, NY $ 8,378,200 Fred Eychaner, Newsweb Corp / Chicago, IL $ 8,152,000

Courtesy of Washington Post and The Center for Responsive Politics: Creative Commons

➢ LEGISLATIVE CHANGE ➢ REGULATORY CHANGE ➢ CONSTITUTIONAL CHANGE How Does Change Happen?