Federal Election Campaign Acts, 1971-1974 By: Josue Villegas Period 4
Background Government subsidies for federal elections, originally proposed by President Roosevelt in 1907, began to take shape as part of the 1971 law, as Congress established the income tax checkoff to provide for the financing of Presidential general election campaigns and national party conventions.
Hey, let's make a federal election campaign act that hopefully wont be ignored for about 64 years .
Purpose The Federal Election Campaign Act of 1971 is the primary United States federal law regulating political campaign spending and fundraising. The law originally focused on increased disclosure of contributions for the federal campaign.
Campaigns in general
Significance The duties of the FEC, which is an independent regulatory agency, are to disclose campaign finance information, to enforce the provisions of the law such as the limits and prohibitions on contributions, and to oversee the public funding of Presidential elections.
We have to monitor how we spend our money and regulate what we spend it on
Origins The Federal Election Campaign Act was introduced in the U.S Senate on May 6, 1971. It was approved by the Senate on August 5, 1971, by a vote of 88-2. The U.S House of Representatives passed its own version of the law on November 30, 1971. A joint conference committee was then convened to reconcile the two separate bills, and the committee made its report on December 1, 1971.
I´m Richard Nixon, and I approve of this Federal Election Campaign act!
Fun Fact The Federal Election Campaign Act also "provided the basic legislative framework for separate segregated funds," more commonly known as PAC´s. Although the law prohibits corporations and unions from making direct contributions to federal candidates, it allows a group to "establish, operate and solicit voluntary contributions for the organization's" political action committee. These funds can then in turn be used in federal elections.
Hey, let's use the money from the PACś to form a group and maybe run in the election .