jan 1, 1979 - FEC allows 'Soft Money'
Description:
In 1979, the recently created FEC ruled that political parties could spend unlimited sums on administrative costs and party-building activities. This was referred to as "soft money." Corporations, trade unions, PACs, and individuals were allowed to directly donate unlimited amounts to political parties for this purpose.
It wasn't just general administrative costs that this 'soft' money could be spent on. For example, parties could run issue ads, and, as long as they did not endorse a particular candidate, they weren't restricted by any spending limits.
Added to timeline:
The History of Money in Politics
A history of the evolving law around the private and public ...
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