Post on 13-Dec-2015
Campaign Finance: Money Buys Speech
A History of Campaign FinanceWhere the reforms have gone &
Where do you think they should go?
Responses to Political Influence & CorruptionGilded Age
– Tillman Act (1907) – Federal Corrupt Practices Act (1910)
Growing unionism after WWII– Taft-Hartley Act (1947)
Campaign abuses and Watergate– Federal Election Campaign Act (FECA 1971)
Unrestricted donations & paid advertising – Bipartisan Campaign Reform Act (2002 McCain-Feingold)
Supreme Court Decisions Overturning Campaign Finance Reforms
1976: Buckley v Valeo – Limits on candidates’ contributions to own campaigns
overturned– Limits on expenditures overturned
1978: 1st National Bank of Boston v. Bellotti– Ban on spending to influence ballot referendums overturned
2007: Federal Election Commission B. Wisconsin Right to Life
-- Issue ads are not contributions
2008: Davis v FEC– Public financing to “level playing field” overturned
2010 Citizen’s United v. FEC
2011 Arizona Free Enterprise Club v. BennettPublic funding programs cannot provide candidates with additional funds if they are vastly outspent by their opponents
2012 American Tradition Partnership v. BullockOutside money may not be regulated at the state level.
2014 McCutcheon v, FECDecision overturned the overall limits that an individual may donate to a candidate or party.
Supreme Court Decisions Overturning Campaign Finance Reforms
Top PACs Giving to Candidates 2013-2014
National Assn of Realtors $3,583,955National Beer Wholesalers Assn $3,017,000National Auto Dealers Assn $2,729,350Honeywell International $2,705,373Lockheed Martin $2,625,750American Bankers Assn $2,410,875Intl Brotherhood of Electrical Workers $2,385,314AT&T Inc $2,381,750 Credit Union National Assn $2,359,500Northrop Grumman $2,347,250Operating Engineers Union $2,338,992
Top Outside Spending Organizations, 2013 - 2014
Democratic Congressional Campaign Cmte $68,810,933
National Republican Congressional Cmte $65,307,559
Democratic Senatorial Campaign Cmte $54,588,997
American Crossroads/Crossroads GPS $48,265,282
Senate Majority PAC $47,364,353
National Republican Senatorial Cmte $39,410,239
US Chamber of Commerce $35,464,243
House Majority PAC $29,203,625
Ending Spending $28,382,836
National Rifle Assn $27,341,024
Number of super PACS 1,259
Total raised by super PACS $596,353,551
Total spent by super PACS $345,341,485
Source: Center for Responsive Politics
Financial Activity for super PACs 2014
Independent Total Expenditures RaisedSenate Majority PAC Liberal $47,364,353 $53,243,991House Majority PAC Liberal $29,203,625 $29,387,033Freedom Partners Action Fund Conservative $23,898,199 $20,604,941American Crossroads Conservative $22,250,121 $28,334,759Ending Spending Action Fund Conservative $22,213,443 $18,828,750NextGen Climate Action Liberal $19,998,292 $76,099,108National Assn of Realtors $11,293,435 $10,081,296
Source: Center for Responsive Politics
Top Super PACS of 2014
Top Contributors to Super PACs 2014Thomas Steyer, Next Generation / San Francisco, CA $73,970,834
Michael R. Bloomberg, City of New York, NY / New York, NY $20,129,518
Paul E. Singer, Elliott Management / New York, NY $ 9,798,034
Robert L. & Diana Mercer, Renaissance Tech / East Setauket, NY $ 8,378,200
Fred Eychaner, Newsweb Corp / Chicago, IL $ 8,152,000 https://www.opensecrets.org/outsidespending/summ.php?cycle=2014&disp=D&type=V&superonly=S