campaign financing cost of modern campaigns campaign reform legislation post-watergate reforms...
TRANSCRIPT
Campaign Financing
• Cost of Modern Campaigns• Campaign Reform Legislation
• Post-Watergate Reforms (FECA)• Bipartisan Campaign Reform Act (BCRA)
• Sources of Campaign Funding• Campaign Finance Regulation and the First Amendment
• The Rise of SUPER PACS• Public Funding of Campaigns
Total Federal Campaign Costs
2008 Presidential Elections
FECA & the BCRA• FECA
• Disclosure requirements• PACS: federally mandated, regulated fundraising organizations that
represent groups and can contribute directly to campaigns • Federal Election Commission to oversee regulations• Partial public funding for presidential campaigns• Contribution limits• Problems with FECA: Soft Money (issue ads/party building)
• BCRA• Limits soft money contributions to parties• Limits issue ads within 30 days of primary and 60 days of general
elections (overturned)• Limited amount of candidate’s own money that can be spent
(overturned)• Problems with BCRA: 527 and 501(c) organizations
Sources of Campaign Funding• Individuals• Parties• Political Action Committees• Member PACs• Personal Savings• Public Funds • Soft Money Groups
BCRA Individual Contribution Limits
Sources of Campaign FundingDirect Support• Individuals: See Chart• Parties: $5,000/election to House candidate and
$42,600/election to a Senate candidate• Political Action Committees: $5,000/election to a
candidate, $15,000/year to party• Member PACs: same as other PACs• Personal Savings: no limits• Public Funds: presidential election
Indirect Support• Soft Money Groups: 527 & 501(c) organizations• SuperPACs
How Do PACS Allocate Their Contributions?
527 & 501(C)ORGANIZATIONS
527 Ads
Super PACS• Colbert Super PAC website• Colbert Super PAC Power Transfer • Colbert Romney Ad• Current Super PAC Ads
Areas of Debate
• Should the government regulate campaign spending?
• Buckley v. Valeo: Are limits on campaign expenditures consistent with the 1st Amendment?
• Should we adopt a mandatory system of publically financed campaigns?