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American Government

American Government. Campaign Finance. Money in Congressional Elections. The Cost of U.S. House Seat $1 million for incumbents (4x as much as average challenger) $1.2 million in open seat elections The Cost of a U.S. Senate Seat $ 8 million. What does Money Buy…. For challengers?

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American Government

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  1. American Government Campaign Finance

  2. Money in Congressional Elections • The Cost of U.S. House Seat • $1 million for incumbents (4x as much as average challenger) • $1.2 million in open seat elections • The Cost of a U.S. Senate Seat • $ 8 million

  3. What does Money Buy… • For challengers? • name recognition • For incumbents? • ward off potential challenges • maintain on-going campaign organizations • Money has a greater marginal effect on the number of votes a challenger gets…

  4. Likely Votes Incumbents Challengers $ Raised and Spent The Effects of Money on Outcomes • Challengers begin with less money and less committed votes. • Incumbents begin with more money and votes. • On average, the return from each dollar for a challenger is better than for an incumbent

  5. Money in Presidential Elections • Spending in 2004 election: • Bush: $345 million • Kerry: $310 million • Total raised so far by presidential candidates for 2008 election: $420 million (and the election is still a year away!!) • http://www.opensecrets.org/pres08/index.asp?cycle=2008

  6. Campaign Finance Law • $ in federal elections is policed by the Federal Elections Commission (created in 1974) • Originally intended to do two things: • Reduce the importance of personal wealth and incumbency • Shift influence from the rich and corporate interests to the citizenry • Types of regulations: • Reporting requirements • Contributions limits • See: http://www.opensecrets.org/basics/law/index.asp

  7. Why FEC has failed to achieve its goals • Buckley v. Valeo (1976) • struck down limits on what a person may spend on their own campaign • Money = Speech • Loopholes in the law • Soft money • PACs

  8. Recent Reforms • Bipartisan Campaign Reform Act of 2002 • Banned use of soft money • Raised limits for hard money • Individual: $2000 primary, $2000 general, per candidate • Organization (PAC): $5000 primary, $5000 general per candidate

  9. Impact of BCRA • Rise of new independent, but Democratic leaning groups: 527s (named after a provision of the tax code) • www.moveon.org • www.pfaw.org • 527s don’t directly campaign for candidates, but they do things like: • Voter mobilization • Issue advocacy • In 2006 elections, these groups spent $428 million!!!

  10. 527s: The Constitutional Question • Independent spending • 527s don’t make contributions to candidates • 527s don’t sell access to candidates • Is it constitutional to limit independent spending?

  11. Campaign Finance Reform Proposals • Let’s assume we would like to: • Reduce the importance of personal wealth and incumbency • Shift influence from the rich and corporate interests to the citizenry • Come up with 1 reform proposal—explain what your proposal is how it will achieve these goals. Identify any potential drawbacks. • Be creative—For inspiration, check out your POV reading: • Patriot Dollar Plan • Secret Donation Plan

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