jan 1, 1976 - 1976 Buckley v. Valeo
Description:
The Supreme Court struck down certain parts of the 1974 amendment to the FECA. It was one of the longest judgements the Court has ever given. Some of the relevant points are listed below:
1) Limits on the amount of 'independent expenditure' by non-parties and non-candidates are unconstitutional. This meant organisations like non-profits and issue advocacy groups. The total ban on independent corporate and union political spending was upheld.
2) That disclosure requirements for political spending, which always apply to candidates and parties, can only apply to independent expenditures if they "expressly advocate the election or defeat of a clearly identified candidate", or if the money being spent is directly requested by the candidate.
3) Limits on the amount candidates can spend after they have already raised money are unconstitutional.
4) Limits on contributions to candidates and their campaign committees, as well as to parties and political action committees, are constitutional.
Ultimately, the key take-away is that the Supreme Court made a distinction between limits on contributions (which were constitutional) and limits on expenditures (which typically weren't).
Added to timeline:
The History of Money in Politics
A history of the evolving law around the private and public ...
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