Money and Elections. Campaign Spending As Will Rogers put it “ You have to be loaded just to get...
-
Upload
anissa-holmes -
Category
Documents
-
view
212 -
download
0
Transcript of Money and Elections. Campaign Spending As Will Rogers put it “ You have to be loaded just to get...
Money and Elections
Campaign Spending
As Will Rogers put it “ You have to be loaded just to get beat.”
It will take well over a billion dollars to win the presidential campaign.
Where the Money Comes From?
Small Contributors Wealthy Individuals and Families Candidates Political Action Committees/Interests
Groups Temporary Organizations Public Subsidy- a grant of money from
the government.
What is a Political Action Committee
The political arm of a special-interest group. They have a major stake in public policy PACs can represent many areas of society The job of PACs is to influence government
policy in their favor They distribute money to those candidates
who are 1. sympathetic to the PACs policy goals, and 2. have a reasonable chance of winning
Public Funding for the President
Income tax “check off” 3 dollars for single return, 6 dollars on joint return. It is optional
To be eligible for funds a contender must raise at least $100,000 in contributions from individuals.
Every major party nominee qualifies for a public subsidy during the general election. No nominee has declined the money.
Hard Money and Soft Money Hard Money- Money raised specifically for elections Soft Money- Money raised by the political party for “party-
building activities”. Until 2002 soft money had no rules or limits
Bipartisan Campaign Reform Act of 2002(AKA the McCain Feingold Act) placed limits on Soft MoneyParties have skirted around this with the use of temporary organizations that produce commercials for the benefit of one party or person. Ex. Swift Boat Veterans for Truth, MoveOn.org
Rules for Political Campaign Contributions No person can give more than $2,000 to any federal
candidate in a primary election. No person can give more than $5,000 to a Political
Action Committee in a year. No person can give more than $25,000 to a National
Party Committee No person can give more than 95,000 in an election
cycle. No PAC can give more than $5,000 to any candidate in
an election. No PAC can give more than $10,000 to any candidate in
an election cycle. PAC’s can contribute no more than $15,000 a year to a
Political Party.