Campaign Finance 5.1 Flashcards
1
Q
Mark Hanna’s Remark
A
- Mark Hanna, a late-19th-century Republican political operative, emphasised the importance of money in politics.
- Modern US politicians agree on the necessity of a substantial financial ‘war chest’ for campaigns.
2
Q
Campaign Finance Reform
A
Reform is widely agreed upon, especially by progressives, but major changes have been hard to secure.
3
Q
Federal Election Campaign Act (FECA) of 1974
A
- Result of the Watergate scandal.
- Limited direct contributions (hard money) from individuals, unions, and corporations.
- Aimed to reduce reliance on wealthy donors and equalise spending between major parties.
4
Q
Buckley v Valeo (1976)
A
Supreme Court ruled that spending limitations infringed First Amendment rights, deeming them unconstitutional.
5
Q
Soft Money - example 1979
A
- Congress allowed parties to raise money for voter registration, get-out-the-vote drives, and party-building activities.
- Soft money became seen as out of control, leading to calls for further reform.
6
Q
Matching Funds (1976-2008)
A
- Presidential campaigns were funded through federal matching funds administered by the FEC.
- Candidates had to meet certain criteria and agree to spending limitations.
7
Q
Obama’s 2008 Campaign
A
- Barack Obama opted out of matching funds, allowing him to outspend John McCain.
- Set a pattern for subsequent election cycles.
8
Q
End of Public Financing
A
- 2012, both Obama and Romney opted out of matching funds.
- 2014, Obama signed legislation ending public financing for national conventions.
- 2016, FEC payouts were minimal, signaling the end of public funding for presidential campaigns.
9
Q
KEY TERM : Campaign Finance
A
Funds raised to promote candidates, parties, or policy initiatives during an election.
10
Q
KEY TERM : Hard Money
A
Direct donations to a party or candidate’s campaign, capped by federal law.
11
Q
KEY TERM : Soft Money
A
Indirect donations to parties and political action committees, not tightly regulated by law.
