Chapter 7 sec 3 government

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Chapter 7 sec 3 government

  1. 1. Money and Elections Senior Government
  2. 2. Why so Much Money? <ul><li>Parties and candidates must have money, without it, they cannot campaign. </li></ul><ul><ul><li>“ Won't politicians buy their way into office?” </li></ul></ul><ul><ul><li>“ Will special interest groups buy favors?” </li></ul></ul><ul><ul><li>“ Does this corrupt the election process?” </li></ul></ul>
  3. 3. Campaign Spending <ul><li>See page 197 </li></ul><ul><li>The presidential election eats up the most spending. </li></ul><ul><li>Congressional campaigns has doubled since the 2000's. </li></ul><ul><li>$=radio and tv time, managers, consultants, newspaper ads, pamphlets, buttons, posters, stickers, office rent, web sites....etc.! </li></ul>
  4. 4. Sources of Funding <ul><li>Parties and candidates draw money from private contributors and the public treasury. </li></ul><ul><li>Private and Public Groups: </li></ul><ul><ul><li>Small Contributors </li></ul></ul><ul><ul><li>Wealthy individuals or families </li></ul></ul><ul><ul><li>Candidates themselves! </li></ul></ul><ul><ul><li>Political Action Committees (PACs) </li></ul></ul><ul><ul><ul><li>Political arms of special interest and other organizations with a stake in electoral politics </li></ul></ul></ul><ul><ul><li>Temporary Organizations-fundraisers </li></ul></ul>
  5. 5. Public Funding <ul><li>Comes from subsidies-a grant of money, usually from a government. </li></ul><ul><ul><li>Come from federal and state treasuries </li></ul></ul><ul><ul><li>Very important at the presidential level. </li></ul></ul>
  6. 6. Regulating Campaign Finance <ul><li>First regulations in 1907 </li></ul><ul><li>Today: Federal Election Campaign Act (FECA) </li></ul><ul><ul><li>Response to Watergate Scandal </li></ul></ul><ul><ul><li>Attempt to also close soft money loophole </li></ul></ul><ul><li>Congress does NOT have the power to regulate the use of money in State and local elections. They do this on their own! </li></ul>
  7. 7. Federal Election Commission <ul><li>(FEC) administers all federal law dealing with campaign finance. </li></ul><ul><ul><li>Independent agency of the executive branch. </li></ul></ul><ul><ul><li>Still somewhat ineffective </li></ul></ul><ul><li>Requires timely disclosure of campaign finance data </li></ul><ul><li>Places limits on campaign contributions </li></ul><ul><li>Places limits on campaign expenditures </li></ul><ul><li>Provides public funding for several parts of the presidential election process </li></ul>
  8. 8. Requirements <ul><li>Disclosure Requirements </li></ul><ul><ul><li>Spotlight the money in federal campaigns </li></ul></ul><ul><ul><ul><li>No contributions in the name of another group, no cash gifts over $100, no foreign money </li></ul></ul></ul><ul><li>Limits on Contributions </li></ul><ul><ul><li>Individual=no more than $2100 in primary and no more than $2100 in the election. </li></ul></ul><ul><ul><li>Total limits = $101,400 in an election cycle </li></ul></ul><ul><li>PACs have limits, but they spread out contributions. </li></ul>
  9. 9. Continued <ul><li>Party nominees can spend no more than $74.6 million </li></ul><ul><li>Presidential Election Campaign Fund </li></ul><ul><ul><li>Every person who pays income tax can check off to donate up to $6 to the fund </li></ul></ul><ul><ul><li>They finance conventions and elections </li></ul></ul>
  10. 10. Hard $ vs Soft $ <ul><li>Hard Money </li></ul><ul><ul><li>Money raised and spent to elect candidates for Congress and the White House </li></ul></ul><ul><li>Soft Money </li></ul><ul><ul><li>Funds given to party organizations for such “party-building” activities as recruitment and registration </li></ul></ul><ul><ul><li>Most problems exist here! </li></ul></ul>

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