Federal Election Campaign Act Flashcards, test questions and answers

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What is Federal Election Campaign Act?

The Federal Election Campaign Act (FECA) was passed by Congress in 1971, and amended several times since then. It is designed to regulate the financing of federal elections in the United States, with an emphasis on transparency and disclosure. The FECA places limits on campaign contributions, sets standards for financial disclosure of campaigns, and creates a system of public financing for presidential general elections. The primary purpose of the FECA is to ensure that individuals do not use large sums of money to influence or unduly affect election outcomes through their donations to political candidates or parties. To this end, it requires all donors who give more than $200 during a calendar year to disclose their identity when making such contributions. Additionally, it prohibits individuals from contributing more than $2,800 per election cycle (primary/general) to any one candidate or party committee; corporations are prohibited from contributing at all under FECA regulations. In addition to limiting contributions from individuals and corporations, the FECA also provides for public funding for major party candidates in Presidential general elections. These funds come from fees paid by taxpayers when filing taxes along with matching funds provided by the government itself up to certain thresholds as set out by law. This scheme allows publicly funded candidates access to resources which would otherwise be beyond them due solely because of their lack of private funding sources leveling the playing field between well-financed opponents and those without significant financial backing. Finally, the FECA mandates that all political committees disclose information about their finances regularly so that voters can better understand how campaigns are being financed; these disclosures must include information regarding individual contributors’ identities as well as fundraising activity within each reporting period specified by law (including amounts received). Furthermore, any spending over $200 must be reported along with its purpose a move intended both to prevent potential misuse of funds as well as provide insight into where a candidate’s priorities lie in terms of expenses throughout his/her campaign efforts. Overall, while controversial among some circles due its perceived interference into free speech concerns surrounding political donations/expenditures the Federal Election Campaign Act has acted effectively toward creating greater transparency around political finance issues via its various provisions concerning donation limits/disclosures & public funding options available for eligible candidates seeking office at varying levels across America’s electoral landscape.