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Campaign Finance

“Soft money” unaccounted and unregulated


contributions to PAC’s were unlimited until 2002,
opening the door for wealthy donors to “buy”
influence in the government
In order to maintain accountability in campaign
fund raising, all donations are regulated.
Campaign Contribution Rules (McCain-Feingold
Act, 2002)
Individuals:
*To a candidate: $2,400 per year
To a political party: $30,400 per year
*To a political action committee: $5,000 per
year
*No more than $100 in cash
Limit: $45,600 to all candidates, $69,900 to all
parties and
PACs
Political Action Committees:
To a candidate: $5,000 per year
To a political party: $15,000 per year
Corporations, Unions, and Banks:
Prohibited from donating to candidates, but no
limit is placed on contributions to Political
Parties/ PACs
Those who cannot donate:
Any company that has a government contract
Foreign Nationals
Minors

Issues:
Loopholes

527’s- exempted from rules due to tax status

Are caps on donations unconstitutional? (Limits


free speech)

Rules don’t apply before someone declares their


candidacy (therefore contributions are unlimited
until they do)