Glossary
Bipartisan Campaign Reform Act (BCRA)
A 2002 federal law, also known as McCain-Feingold, that banned soft money contributions to national political parties and restricted "electioneering communications" by corporations and unions.
Example:
The "I approve this message" disclaimer at the end of political ads is a direct result of the BCRA's efforts to increase transparency.
Buckley v. Valeo (1975)
A landmark Supreme Court case that upheld limits on campaign contributions but struck down limits on independent expenditures, ruling that spending money in elections is a form of free speech.
Example:
The Buckley v. Valeo decision established the precedent that campaign spending is protected under the First Amendment, influencing all subsequent campaign finance law.
Campaign finance
The regulation of money in political campaigns, encompassing how funds are raised and spent.
Example:
Debates over campaign finance often center on whether large donations give wealthy individuals or corporations too much influence in elections.
Citizens United v. FEC (2010)
A Supreme Court case that ruled corporations and unions have the same First Amendment free speech rights as individuals, allowing them to spend unlimited amounts of money on independent political expenditures.
Example:
The Citizens United v. FEC decision led to a significant increase in outside spending in elections, as corporations and unions could now fund political ads directly.
Federal Election Campaign Act (FECA)
The first major federal law to regulate campaign finance, establishing limits on contributions and creating an enforcement agency.
Example:
Before FECA, candidates could receive unlimited donations from any source, leading to concerns about corruption.
Federal Election Commission (FEC)
An independent regulatory agency responsible for enforcing campaign finance law in federal elections.
Example:
The FEC investigates complaints about illegal campaign contributions and can levy fines against violators.
Hard Money
Funds contributed directly to a political candidate or party, subject to strict limits and disclosure requirements under federal law.
Example:
An individual donating $2,000 directly to a congressional candidate's campaign is an example of hard money.
Political Action Committees (PACs)
Organizations formed by corporations, labor unions, or other interest groups to raise and spend money to elect or defeat candidates, subject to contribution limits.
Example:
A company's employees might form a PAC to pool their individual contributions and donate to candidates who support their industry.
Soft Money
Unregulated funds contributed to political parties or interest groups for "party-building" activities, not directly for a candidate's campaign.
Example:
Before its ban, a corporation might donate a large sum of soft money to a national party committee for voter registration drives.
Super PACs
Independent expenditure-only political committees that can raise and spend unlimited amounts of money from corporations, unions, associations, and individuals to overtly advocate for or against political candidates.
Example:
A Super PAC might spend millions of dollars on television ads attacking a candidate, as long as they do not coordinate directly with that candidate's campaign.