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The concept of political finance can affect various parts of a society's institutions which support governmental and social success. [13] Correct handling of political finance impacts a country's ability to effectively maintain free and fair elections, effective governance, democratic government and regulation of corruption. [13]
Diagram by the Sunlight Foundation depicting the American campaign finance system. The financing of electoral campaigns in the United States happens at the federal, state, and local levels by contributions from individuals, corporations, political action committees, and sometimes the government.
Campaign finance laws in the United States have been a contentious political issue since the early days of the union. The most recent major federal law affecting campaign finance was the Bipartisan Campaign Reform Act (BCRA) of 2002, also known as " McCain - Feingold ".
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The Democracy Is Strengthened by Casting Light on Spending in Elections Act, or DISCLOSE Act, is a federal campaign finance reform bill that has been introduced in the United States Congress since 2010.
The FEC was established in 1974, in an amendment of the Federal Election Campaign Act (FECA), to enforce and regulate campaign finance law. [7] Initially, its six members were to be appointed by both houses of Congress and the president, reflecting a strong desire for Congress to retain control. [7]
This page was last edited on 16 October 2020, at 17:49 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
The funding of political parties is an aspect of campaign finance. Political parties are funded by contributions from multiple sources. One of the largest sources of funding comes from party members and individual supporters through membership fees, subscriptions and small donations.