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Once they have established eligibility for matching payments, presidential candidates may receive public funds to match contributions from individual contributors, up to $250 per individual. Contributions from political committees are not eligible for matching funds. Cash contributions are also ineligible, as their origins cannot be tracked.
Under United States law, officially declared candidates are required to file campaign finance details with the Federal Election Commission (FEC) at the end of every calendar month or quarter. Summaries of these reports are made available to the public shortly thereafter, revealing the relative financial situations of all the campaigns.
McCutcheon v. Federal Election Commission, 572 U.S. 185 (2014), was a landmark decision of the US Supreme Court on campaign finance.The decision held that Section 441 of the Federal Election Campaign Act of 1971, which imposed a limit on contributions an individual can make over a two-year period to all national party and federal candidate committees, is unconstitutional.
Federal Election Commission, a case challenging the limit on how much individuals can donate directly to political parties and federal candidates. [109] On April 2, 2014, the Court announced its opinion and maintained aggregate limits on campaign contributions were unconstitutional under the First Amendment.
The FEC was established in 1974, in an amendment of the Federal Election Campaign Act (FECA), to enforce and regulate campaign finance law. [8] 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. [8]
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".
An independent expenditure, in elections in the United States, is a political campaign communication that expressly advocates for the election or defeat of a clearly identified political candidate that is not made in cooperation, consultation or concert with – or at the request or suggestion of – a candidate, a candidate's authorized committee, or a political party. [1]
McCutcheon v. Federal Election Commission was a Supreme Court decision that declared imposing an aggregate contribution limit on an individual over a two-year period to national party and federal candidate committees unconstitutional. In a 5–4 decision, Supreme Court Justices decided that this was a violation of the First Amendment.