1.12 Campaign Finance

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15 Terms

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Federal Election Campaign Acts (1971-1974)
Legislation that established rules for campaign finance, including disclosure, subsidies, and limitations.
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Federal Elections Commission
A regulatory body established to oversee federal elections and enforce campaign finance laws.
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Matching Fund Basis
A system where federal subsidies for presidential candidates are provided based on the amount raised, requiring a candidate to have received 5% of the vote in the previous election.
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Buckley v. Valeo (1976)
A Supreme Court case that upheld campaign contribution limits while allowing unlimited personal spending by candidates.
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Bipartisan Campaign Reform Act of 2002 (BCRA)
Also known as the McCain-Feingold Act, it banned soft money donations to national parties and increased hard money donation limits.
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Soft Money
Unregulated donations to political parties that are not explicitly meant to support a particular candidate.
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Hard Money
Donations that are regulated by law and subject to contribution limits.
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Super PACs
Political action committees that can raise and spend unlimited amounts of money on independent expenditures.
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Independent Expenditures
Funds spent on ads that advocate for or against a candidate but are kept separate from the candidates' official campaign.
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527 Groups
Tax-exempt organizations that engage in political activities, can raise unlimited contributions, and spend on voter mobilization and issue advocacy.
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Impact of Citizens United v. FEC
The ruling that allowed corporations and unions to spend unlimited amounts on independent political expenditures.
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Incumbency Advantage
The benefits that current officeholders have over challengers, often exacerbated by campaign finance dynamics.
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Regulation on PAC Contributions
Political Action Committees can contribute $5000 per candidate per election without an overall cap.
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Limitations on Congressional Campaigns
No federal subsidies or spending limits for congressional candidates, furthering incumbency advantage.
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Effects of Campaign Finance on Political Parties
Increasingly, funding goes directly to candidates rather than through political parties, weakening party influence.