SSCG 8 c Examine campaign funding and spending

SSCG 8 c: Examine campaign funding and spending.

Bell Ringer Please answer the following questions: 1. How can social media help or hurt a political campaign? 2. Why is it important for politicians to utilize media in their campaign? 1. What would you do with $887 million?

Videos: How Campaign Finance Works http: //www. youtube. com/watch? v=Jwq. Ekjip. Ao. Y

HARD MONEY VS. SOFT MONEY • 'Hard' money is contributed directly to a candidate. It is regulated by law and monitored by the Federal Election Commission. • 'Soft' money is contributed to the Republican and Democratic National Committees, and to the party committees in each state. 'Soft' contributions are not as heavily regulated.

PAYING FOR PRESIDENTS • Presidential Campaigns = Big Money • Billions of dollars were spent to elect a President in 2012.

2012 Campaign Stats By the Numbers: http: //www. washingtonpost. com/wp-srv/special/politics/campaign-finance/

POLITICAL ACTION COMMITTEES (PAC) • Special groups that raise money for candidates with whose political platform they agree. • Heavily regulated by the Federal Election Commission. • Came about after WWII

POLITICAL ACTION COMMITTEES • In 1905, President Theodore Roosevelt introduced the first campaign finance regulations • Limit the influence of wealthy individuals and special interest groups. • Deter abuses by mandating public disclosure. • More regulations came in the 1970’s in the wake of the Nixon presidency.

PACS • A limit for individuals to $5, 000 per year for Federal PACs; • Corporations and unions may not contribute directly to federal PACs, • Union-affiliated PACs may only solicit contributions from members; • Independent PACs may solicit contributions from the general public and pay their own costs.

TOP PACS FROM 2011 -2012 • • • Honeywell International$1, 746, 428 36% 64% National Assn of Realtors$1, 628, 900 45% 54% National Beer Wholesalers Assn$1, 511, 500 42% 58% AT&T Inc$1, 355, 000 37% 64% Intl Brotherhood of Electrical Workers$1, 319, 150 98% 2% American Assn for Justice$1, 300, 500 96% 4% Lockheed Martin$1, 289, 500 41% 59% Credit Union National Assn$1, 184, 800 47% 53% American Bankers Assn$1, 146, 100 25% 75% Every Republican is Crucial PAC$1, 101, 000 0% 100% Boeing Co$1, 068, 500 40% 60% Carpenters & Joiners Union$1, 037, 500 77% 23%

SUPER PACS • Super PACs are a new kind of political action committee created in July 2010 following the outcome of a federal court case known as Speech. Now. org v. Federal Election Commission. • Can give unlimited amounts of money raised from corporations, union, individuals to candidates. • Must report donors monthly or quarterly to Federal Election Commission.

SUPER PACS • As of March 13 2012 Super PACs have raised $130, 353, 017.

SUPER PACS • • • Restore Our Future supports Romney Conservative $36, 797, 202 Winning Our Future supports Gingrich Conservative $13, 114, 797 Red, White & Blue supports Santorum Conservative $2, 817, 675 Make Us Great Again supports Perry Conservative $5, 485, 885 Endorse Liberty supports Paul Conservative$3, 396, 997 Our Destiny PAC supports Huntsman Conservative $3, 166, 244 House Majority PAC Liberal $3, 020, 215 Freedomworks for America Conservative $3, 045, 084 American Crossroads Conservative $23, 439, 951 Priorities USA Action supports Obama Liberal$4, 459, 431

RECENT LEGISLATION • Bipartisan Campaign Reform Act of 2002 or the Mc. Cain –Feingold Act sought to limit the amount of soft money raised from 527 organizations – which are non-profits. • Soft Money is money raised for party building and not given to specific candidates • Hard Money goes directly to the candidate • This legislation was a product of the 1996 election and an revision of reforms from the 1970 s.

RECENT LEGISLATION • Citizens United v. Federal Elections Commission - 2010 • Relaxed regulations introduced by Mc. Cain-Feingold concerning the amount of money corporations could donate • Which held that the First Amendment prohibited the government from restricting political expenditures by corporations and unions. • Led to the creation of Super PACs

Videos: Super PACs http: //www. youtube. com/watch? v=Ky. N 2 EVb. My 80 http: //www. youtube. com/watch? v=p. Mv. G 54 Gjt. RI&feature=rel ated

Money in U. S. Elections • Continuing Problems with Campaign Finance • Rising Costs of Campaigns • Candidates’ Personal Wealth • Declining Competition • Increasing Dependence of PACs and Wealthy Donors • Growth in Individual Contributions and Use of the Internet to Fund Campaigns

Closing Answer the following questions: 1. How do PACs and Super PACs influence campaigns? 2. Are they a good thing or a bad thing? Explain your answer.