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Campaign Finance

Campaign Finance. Campaigns are VERY expensive. H ouse races can cost over $1 million but usually cost $400-700,000 for incumbents, less for challengers. Senate races cost much more. Presidential campaigns are also expensive…

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Campaign Finance

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  1. Campaign Finance

  2. Campaigns are VERY expensive • House races can cost over $1 million but usually cost $400-700,000 for incumbents, less for challengers. • Senate races cost much more. • Presidential campaigns are also expensive… • Money raised for primaries is matched by the fed. gov. if it meets certain guidelines • 100% of major candidates’ campaigns are funded (and a % of a minor party candidate who received at least 5% of the vote in previous elections) • All political money is regulated by the federal government under the Federal Elections Campaign Acts (1971, 1974, 1976) • Generally, those who spend more do better in an election.

  3. Limits • Individual • $2,000 per candidate/election • PACs • 50 members, give to at least 5 candidates • $5,000/candidate • $15,000/political party

  4. Soft Money • Money with no limits or rules that is raised and spent outside of federal election guidelines. • Often used to pay for ads that do not expressly advocate the election or defeat of a particular candidate. • Many argue that the huge infusion of unregulated soft money has destroyed the federal campaign laws. • BCRA (2002) banned soft money from corporations/unions

  5. Loopholes • Super PACs • Independent expenditures (not coordinated with a campaign) • Citizen’s United vs. FEC • 527s • Nonprofits • Unlimited expenditures on political causes as long as they don’t coordinate with a candidate or lobby directly for that person

  6. FECA - Parties • Parties also donate money to candidates. The Republican and Democratic parties give 10s of millions to congressional candidates. • Wealthy members of Congress and state legislatures often also donate monies to candidates of their party. • Some members of Congress establish their own PACs to give money. Republican Majority Leader Dick Armey has a PAC.

  7. Personal Contributions • In Buckley v. Valeo (1976)the Supreme Court struck down limits on personal campaign spending. • Spending your own money on your campaign is a free speech right. • Steve Forbes, Ross Perot, and other wealthy Americans have taken advantage of their personal wealth in their quest for office.

  8. Is it good or bad that the federal government subsidizes presidential elections?

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