Federal Election Campaign Act of 1971
Feb 7, 1972
Became law: Feb 7, 1972
Feb 7, 1972
Became law: Feb 7, 1972
Summary
Sets rules for how money can be spent and raised for federal election campaigns to make them fairer and more open.
What problem does this solve?
Before this law, there were few rules on how money was raised and spent in federal elections, which could lead to secret deals and unfair advantages for the rich. This act creates clear limits and requires campaigns to show the public where their money comes from and how it is used.
What does this law do?
Reference
Text:
Section:
Sec. 104(a)
Header:
Limitations of expenditures for use of communications media
Limits spending on campaign advertising
Sets a cap on how much candidates for federal office can spend on communications media like TV, radio, and newspapers. The limit is the greater of $50,000 or 10 cents for each person of voting age in the election area.
Restricts use of personal money in campaigns
Limits how much money candidates can spend from their own or their immediate family's funds. The limits are $50,000 for President, $35,000 for Senate, and $25,000 for the House of Representatives.
Requires public reporting of campaign finances
Forces political committees and candidates to file regular reports that are open to the public. These reports must list all contributions and expenses over $100, including the names and addresses of the people involved.
Lowers advertising costs for candidates
Requires TV and radio stations to give candidates their lowest advertising rate during the 45 days before a primary and the 60 days before a general election. This helps make campaign ads more affordable.
Establishes government oversight of campaign finance
Creates 'supervisory officers' (the Secretary of the Senate, the Clerk of the House, and the Comptroller General) to collect, review, and publish campaign finance reports and investigate possible violations.
Bans contributions made in someone else's name
Makes it illegal for a person to make a political contribution using another person's name. It is also illegal to knowingly accept such a contribution.
Sets rules for political committees
Requires every political committee to have a chairman and a treasurer. Committees must keep detailed records of all money they receive and spend, and they cannot mix campaign funds with personal funds.
Replaces the old campaign finance law
Repeals the Federal Corrupt Practices Act of 1925, replacing it with this new, more detailed set of rules for federal election campaigns.
Who does this affect?
- Candidates for Federal Office
- Political Donors
- Political Committees
What is the real world impact?
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Increases transparency in political campaigns
Requires candidates and political groups to publicly report who donates to them and how they spend their money. This lets voters see who is funding political campaigns.
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Levels the playing field for candidates
Sets limits on how much candidates can spend on their own campaigns and on media advertising. This aims to prevent wealthy candidates from having an unfair advantage.
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Limits the influence of wealthy donors
Restricts how much money individuals and groups can give to campaigns. This tries to reduce the power of large, secret donations in federal elections.
When does this start?
The rules in this act went into effect 60 days after it was signed, which was in early April 1972.
Rules for extending credit
Federal agencies that regulate communications and transportation had to create new rules about giving credit to campaigns within 90 days of the law being passed.
Campaign finance reporting deadlines
Candidates and committees must file financial reports on specific dates throughout the year, including March 10, June 10, September 10, and right before an election.