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Campaign Finance Reform

Campaign Finance Reform. FEC – Federal Election Commission BCRA – Bipartisan Campaign Reform Act Hard money = Federal money Political donations raised from federally permissible sources within the limits established by BCRA Soft money = Nonfederal money

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Campaign Finance Reform

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  1. Campaign Finance Reform

  2. FEC – Federal Election Commission • BCRA – Bipartisan Campaign Reform Act • Hard money = Federal money • Political donations raised from federally permissible sources within the limits established by BCRA • Soft money = Nonfederal money • Political donations made in such a way as to avoid federal regulations. What you need to know about campaign finance

  3. Beginning of time—Civil War: No regulation • Civil War—1910 • Gilded Age • Exceptionally scandalous politicians nationally • Boss Tweed • 1868: 75% of money used in congressional elections through party assessments • 1867: Naval Appropriations Bill • First federal effort to regulate campaign finance • Aimed at stopping the political shakedown naval yard workers for political contributions • Prohibits officers and employees of the fed. gov’t from soliciting contributions • 1883: Civil Service Reform Act (Pendleton Act) prohibits the same solicitation of all federal workers www.mit.edu/~17.251/finance.ppt Overview History of Campaign Finance Regulation

  4. Corrupt Practices Acts of 1911 and 1925 • Set disclosure requirements for House and Senate Elections • Spending limits ($25k for Senate; $5k for House) • Ridiculously weak and regularly violated • 1971 Federal Election Campaign Act (FECA) • 1976: Buckley v. Valeo (1976) www.mit.edu/~17.251/finance.ppt Overview History of Campaign Finance Regulation

  5. Buckley v. Valeo, (1976), was a case in which the Supreme Court of the United States upheld a federal law which set limits on campaign contributions, but ruled that spending money to influence elections is a form of constitutionally protected free speech, and struck down portions of the law. The court also stated candidates can give unlimited amounts of money to their own campaigns. Buckley v. Valeo

  6. Campaign Finance Reform and Buckley I www.mit.edu/~17.251/finance.ppt

  7. Campaign Finance Reform and Buckley II www.mit.edu/~17.251/finance.ppt

  8. Purpose • In 1975, Congress created the Federal Election Commission (FEC) to administer and enforce the Federal Election Campaign Act (FECA) • the statute that governs the financing of federal elections. • The duties of the FEC, which is an independent regulatory agency, are to • disclose campaign finance information • enforce the provisions of the law such as the limits and prohibitions on contributions, • oversee the public funding of Presidential elections. Federal Election Commission

  9. Government • FEC – Federal Election Commission • Campaign Committees • Candidates • National Party Committees • State & Local Party Committees • Separate Segregated Funds • PACs connected to corporations, unions, etc. • Nonconnected Committees • All other PACs • 527s • Individuals FEC Rules & RegulationsThe Players

  10. Various Election Law • Federal Election Campaign Act (FECA) 1975 • Bipartisan Campaign Reform Act (BCRA) 2002 • Major changes under BCRA

  11. The Bipartisan Campaign Reform Act (BCRA) of 2002, also known as "McCain-Feingold," after its sponsors, is the most recent major federal law on campaign finance, which revised some of the legal limits of expenditure set in 1974, and prohibited unregulated contributions (called "soft money") to national political parties. ‘Soft money’ also refers to funds spent by independent organizations that do not specifically advocate the election or defeat of candidates, and are not contributed directly to candidate campaigns. McCain Feingold 2002

  12. What does Federal Election Law Regulate? • In General • The financing of federal elections • Specifically • Disclosure of financial activity • Contributions • Receiving and Giving • Expenditures • Candidate support activities • Federal election activities

  13. Federal Funds • Collected from permissible sources • Subject to contribution limits • Levin Funds • For state and local party committees only • Collected from any entity except fed cand. • Only used for certain types of FEA • Nonfederal Funds • Subject to state law only • May be used to pay for expenses related to not federal elections Types of Money

  14. Hierarchy of MONEYState Parties Federal “Hard Money” Levin Quasi-Fed $ State “Soft Money” • Federal Money • Most limitations • Federal, state and local elections • Levin Money • Fewer limitations • Some Federal election activities, state and local • State Money • Typically, fewest limitations • State and local elections only

  15. Where does my money go? • It depends! • Candidate • Candidate specific activities • Contributions to other candidates, parties or causes • DNC/RNC • Federal candidates • Allocated nationally • State Party Committees • Federal, state & local candidates • Allocated statewide • PACs • Support candidates, parties that agree on specific issues • 527s • Separate campaign

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