Campaign Finance

1
Campaign Finance

• October 21, 2004
• The first day in the post-curse era of Red Sox
  baseball!

2
Buckley v. Valeo (1976)

• Who was Buckley and why was he suing? Senator
  from NY
• Which law was targetted? Federal Election
  Campaign Act (FECA)
• What is the important political event that
  provides context for this case? Watergate
• What was the decision in the case?

3
Buckley decisionkey elements

• Distinguishes between contributions and
  expenditures regarding 1st Amend.
• Expenditures are more like pure speech, shouldnt
  regulate
• Contributions are less directly speech, more
  likely to raise perception of corruption or quid
  pro quo, some limits OK
• Money Speech

4
Bi-Partisan Campaign Reform Act (aka
McCain-Feingold)

• S.Ct. upholds in January 2003 (McConnell v. FEC)
• RehnquistWith two relatively minor exceptions,
  the entire statute is constitutional. 5-4,
• Lots of folks suggesting this infringes on 1st
  Amend. Rights, Scalia, sad day for freedom of
  speech

5
Major provisions of McCain-Feingold (BCRA)

• Bans all soft money contributions to national
  political parties
• Bans corporations, trade associations, and unions
  from paying directly for electioneering
  communications within 60 days of a general
  election or 30 days of a primary
• Increased limits on individual hard money
  contributions

6
Still to come

• Possible regulation of internet based advertising
  (currently exempt)
• Possible regulation of anonymous donations
• Possible circumventions
• Own your own news outlet (NRA)
• 527sunlimited money by advocacy groups as long
  as no coordination with a candidate