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PACs
Private group that raises and distributes funds for use in election campaigns. Most represent business, labor, and ideological interests. -
Hard Money
Political contributions given to a party, candidate, or interest group that are limited in amount and fully disclosed. More difficult than raising unlimited funds, hence the term "hard money" -
Soft Money
Money raised in unlimited amounts by political parties for party building purposes. Largely illegal except for limited contributions to state or local parties for voter registration. -
Independent Expenditures
Money spent by individuals or groups not associated with candidates to elect or defeat candidates for office. -
FECA
Regulates the raising and spending of money in US federal elections, specifically by restricting the monetary amounts and contributions that could be made to candidates and parties. It also imposed upon donors a mandate to disclose all expenditures on federal campaigns. Many donors felt that FECA infringed upon their freedom of speech to use their money in whatever way they saw fit. This tension led to court cases that doubted the constitutionality of the act. -
Buckley v. Valeo
Court ruled that restrictions on individual contributions to campaigns/candidates didn't violate the First Amendment because it was meant to guard democracy against unlawful practices. On the other hand, the court found that governmental restrictions on independent expenditures to a campaign that came out of one's own pocket or on total campaign expenditures violated the First Amendment. Ruling gave rising to political action committees (PACs) and an increased use of soft money. -
McCain-Feingold/BCRA
First major amendment of FECA, created primarily to address the elimination of soft money to fund political parties on behalf of their candidates. Raised the amount that could be given by individuals to $2,000 per candidate and provided adjustment in the future against inflation. Parties prohibited from donating funds to 527 groups and electioneering communications by corporations and unions. Limits on expenditures eventually shot down by Citizens United v. Federal Election Commission. -
527 Groups
Refers to political organizations as identified in their tax filings with the IRS. Groups typically consist of parties, candidates, committees, or associations organized for the purpose of influencing an issue, policy, appointment, or election. Can raise unlimited funds from individuals, corporations, or unions but must register with the IRS and disclose their contributions and expenditures. -
Individual Contributions
May give maximum of $2,700 per election to a federal candidate or their campaign committee; $5,000 a year to a PAC that supports federal candidates; $10,000 a year to state or local party committee; $33,900 per year to national party committee; $100 to any politcal committee. Info according to the FEC -
Citizens United v. Federal Election Commission
Corporate funding of independent political broadcasts in federal elections is protected by the First Amendment. BCRA's disclosure requirements are constitutional because they provide the electorate with necessary information to vote. Upheld ban on direct contributions from corporations and unions. -
Super PACs
A type of independent political action committee which may raise unlimited sums of money from corporations, unions, and individuals but is not permitted to contribute to or coordinate directly with parties or candidates. Some nonprofit groups are allowed to contribute to super PACs without disclosing where their money came from; The most important difference between a super PAC and traditional candidate PAC is in who can contribute, and in how much they can give.
