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Campaign Finance-Video. Federal Election Campaign Act of 1974-Why written? What is it? ● After Watergate, written with goal of “leveling playing field”

Published byEileen Kelly Modified over 9 years ago

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Presentation on theme: "Campaign Finance-Video. Federal Election Campaign Act of 1974-Why written? What is it? ● After Watergate, written with goal of “leveling playing field”"— Presentation transcript:

1 Campaign Finance-Video

2 Federal Election Campaign Act of 1974-Why written? What is it? ● After Watergate, written with goal of “leveling playing field” (didn’t actually accomplish this goal b/c there were so many legal loopholes) ● Created the Federal Election Commission, *Full disclosure required* ● Created “PACs” Must have 50+ voluntary members, give to at least 5 candidates …limit = $5k/candidate/election and $15k/party/year) ● Limited Hard Money ($1k limit from individuals to candidate originally) ● No foreign contributions ● Public Financing option through the Fed. Govt (Presidential Candidates) Problems with the FECA 1. Soft $ allowed in unlimited amounts (spent on activities, not given directly do a candidate’s campaign) 2. bundling (PACs can join together) 3. Independent Expenditures (ordinary ads for or against candidates) 4. 1 st Amendment Challenges Result of FECA # of PACs increased dramatically Cost of campaigns has increased at a rate higher than inflation

3 Sooo….there was an attempt to close the loophole…. ● McCain/Feingold a.k.a Bipartisan Campaign Reform Act (2002) ● Banned Soft M oney ● Raised the limits on Hard Money (used to be $1k individual & $5k PAC NOW $2k individual & 10k PAC ) McCain Feingold Loopholes ● 527s (named after section on IRS tax code…groups dedicated to a cause) ● Independent Expenditures (ex: transportation, app design, endorsements) ● Issue Ads Citizens United v. FEC (2009) *allowedSuperPACs*

4 Issue Ads – a type of independent expenditure Second Amendment Ad (Anti Obama) http://www.youtube.com/watch?v=NUuuh98 PM4M Sift Boat Veterans (Anti Kerry) http://www.youtube.com/watch?v=phqOuEh g9yE

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