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

Chart courtesy of OpenSecrets.org: Creative Commons

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

Modified slide based on Open Secrets: Creative Commons

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

Courtesy of Washington Post and The Center for Responsive Politics: Creative Commons

➢LEGISLATIVE CHANGE

➢REGULATORY CHANGE

➢CONSTITUTIONAL CHANGE

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