Different Acts that have changed campaign Financing
The Federal Election Campaign Act (FECA), which replaces Federal Corrupt Practices Act, is passed. The law:
The Supreme Court rules, 5–4, in Citizens United v. Federal Election Commission that the government cannot restrict the spending of corporations, unions, and other groups for political campaigns, maintaining that it's their First Amendment right to support candidates as they choose.
In the majority decision, Justice Anthony Kennedy said, "We now conclude that independent expenditures, including those made by corporations, do not give rise to corruption or the appearance of corruption." The Citizens United decision resulted in the proliferation of super PACs that opened the floodgates for unlimited amounts of money to be poured into political campaigns. It also dismantled the McCain–Feingold campaign-finance law.
The Federal Election Campaign Act (FECA), which replaces Federal Corrupt Practices Act, is passed. The law:
- institutes disclosure requirements for federal candidates, political parties, and political action committees of donations more than $100.
- sets spending limits for candidates and their family members: $50,000 cap for presidential and vice presidential candidates, $35,000 for Senate candidates, and $25,000 for House candidates.
The Supreme Court rules, 5–4, in Citizens United v. Federal Election Commission that the government cannot restrict the spending of corporations, unions, and other groups for political campaigns, maintaining that it's their First Amendment right to support candidates as they choose.
In the majority decision, Justice Anthony Kennedy said, "We now conclude that independent expenditures, including those made by corporations, do not give rise to corruption or the appearance of corruption." The Citizens United decision resulted in the proliferation of super PACs that opened the floodgates for unlimited amounts of money to be poured into political campaigns. It also dismantled the McCain–Feingold campaign-finance law.
The chart below will show you the campaign financing cost.