POSC 100 Lecture Notes - Lecture 14: Federal Election Commission, Campaign Finance, Campaign Finance In The United States
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Finance
Chapter 10 (4/5/18)
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1. Campaign Finance
a. Why is there so much $ in US elections?
b. What is the impact on campaigns?
c. What if anything- can be done about it?
2. 1972 elections
a. Nixon gets elected
i. 12 wealthy donors give more than 50$ million
ii. 1974 Congress passes law: FECA (federal elections campaign act)
iii. Individual - 1000$ to a candidate: primaries & gov election
1. $5000 to a PAC- political action committee
2. PAC then gives $2000 it to a candidate
3. Loopholes
a. Soft money : money that you give to parties for “education & non partisans”
(unlimited amounts)
i. Problem
1. Very biased & unlimited (bad)
b. Bundling: not illegal but interest groups collect candidates donation
4. 2002 Mccain - feinadd campaign : Finance reform
a. It bans soft money at the national level but not the state level (loophole: states)
b. Individuals can give no more than 2700$ to a candidate (1 to primaries 1 to
general)
c. $5000 to a Pac $2700 to a candidate (primary, general)
5. 527s (tax code) this reform revamped the way you pay taxes (loophole)
a. 527s is independent organization (undermines the reform takes all propaganda
and money)
i. What are they dangerous?
1. They are separate from campaigns so they can do whatever they
want (it becomes hard b/c you can lie about information)
2. They can raise unlimited $$$ & say whatever ***
6. Campaign finance (contin)
a. 2010 citizens United vs FEC (federal elections commission)
i. Has 3 demo & 3 repub.
ii. Monitor elections
iii. Campaign donations
1. Citizens
Document Summary
Chapter 10 (4/5/18: campaign finance, why is there so much $ in us elections, what is the impact on campaigns, what if anything- can be done about it, 1972 elections, nixon gets elected i. ii. iii. 12 wealthy donors give more than 50$ million. 1974 congress passes law: feca (federal elections campaign act) Problem: very biased & unlimited (bad, 2002 mccain - feinadd campaign : finance reform, bundling: not illegal but interest groups collect candidates donation a. b. It bans soft money at the national level but not the state level (loophole: states) Has 3 demo & 3 repub. i: monitor elections iii. Campaign donations: citizens, corporations are people for purpose of campaign finance (opens floodgates) instead of individuals donating, corporates are doing it, super pac (independent) i. The money from the super pac must be declared on your taxes: problems a. b.
