Transcript Campaign Finance: FEC

Campaign Finance
THE FEDERAL ELECTION COMMISSION AND
CAMPAIGN FINANCE REGULATION
Key Terms to Remember
 PAC: established by businesses, labor unions, and
interest groups to channel money to campaigns
 Hard money: contributions restricted by campaign
law
 Soft money: unregulated money contributed to
parties for the purpose of party building activities
 Issue ads: ads that seek to inform citizens about
critical issues. Some claim that this is a loophole to
campaign finance.
The Federal Election Commission is…
 An Independent Regulatory Agency
 Responsible for Enforcing Campaign Finance Law
 Regulator of U.S. House, Senate and Presidential
Elections
Major changes to the FECA
 Set limits on contributions
 Established the FEC
 Buckley v. Valeo
 Bipartisan Campaign Reform Act of 2002
 Banned soft money at the national level
 Restricted issue ads
 Increased contribution limits
 Indexed limits for inflation
 Citizens United v. FEC (2010)
 Government may NOT ban corporate spending in a political
campaign
Other characteristics
 Income tax check-off for public financing of
presidential elections and party conventions
 Establishes matching funds program for primary
elections
 First publicly funded election in 1976 (Ford v.
Carter)
 National elections ONLY…NOT state or local
elections
Banned Contributions
 Foreign nationals
 Those with green cards are able to contribute
 Government contractors
 Corporations and Labor Unions
 Contributions in the name of another
 No cash contributions over $100
What counts as a contribution?
 Any donated items such as office supplies and
equipment
 Discounted pricing
 Fundraiser tickets
 Loans and loan endorsements
Independent Expenditures
 Money spent for a communication that specifically
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pushes for the election or defeat of a federal
candidate
Not connected with a campaign organization
Does NOT count as contribution
Unlimited (Buckley)
Disclosure within communication