readingsummaries

readingsummaries - Reading summaries for the week of March...

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Reading summaries for the week of March 28 and March 30 March 28 Anthony Corrado “A History of Federal Campaign Finance Law.” 1904 election led to the first organized movement for campaign finance reform. Presidential hopefully accused Teddy Roosevelt of receiving gifts from corporations. This started the movement that later in 1907 made Congress create the Tillman Act, prohibiting any contributions by corporations and national banks to federal political campaigns. In 1910 the Publicity Act was passed which required national party committees and their congressional committees to produce post election receipts. 1911 Amendment to the Publicity Act established a spending limit for federal campaigns. Also the amended act enforced Senate House and presidential candidates to produce a pre and post election receipt. Post WW 2 federal candidates began fund raising independently from the party in efforts to gain more money. The foreign Investors Tax Act lasted only a short time until it the bill was postponed. The late 60’s people began realizing that the Federal Corrupt Practices Act needed an overhaul. The spending limits and reporting requirements were not as effective as they were thought to be. Congress acted by passing the Federal Election Campaign Act, which restricted campaign spending and strengthened the reporting requirements. This did not stop the increase and spending. The Watergate scandal brought about the FECA Amendment which enacted unpresidented limits on contributions and expenditures in federal elections. The Amendment created a vastly more strict restriction on campaign finance. The Supreme Court case Buckley v. Valeo passed a ruling that only a restrictive ceiling could be put on publicly funded presidential elections. Opposition did not like how the reform made
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campaigns focus more on media advertising and less on grass root campaigning. A 1979 amendment dealt with this complaint that allowed for federal spending on grass roots campaigning. Hard money which is federal money was used to fund these organizations. Soft money is money that is given to party funds which is not regulated.
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readingsummaries - Reading summaries for the week of March...

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