Capaign Finance Reform

These committees are sponsored by corporate and trade associations, are primarily concerned with getting access to legislators and rely on their contributions to get access to them. These PAC contributions undermine the small contributor and deem these small contributions ineffective. Their disaffection has weakened public faith in the authenticity of election results. The current system instead of encouraging financial activity within the rules of FECA it encourages financial activity beyond the laws authority. In the 1996 election national party committees raised and spent over $250 million in "soft money"(money that is not regulated by FECA). In 1998 they raised $201 million a record for a midterm election. .
             These four problems are not easily solved. No one or two changes will achieve the diverse objectives of a well functioning system. The people of this country need a reform program that honestly acknowledges competing values and provides the necessary tradeoffs between them. Successful reform must balance the need for regulation with the protection of the First Amendment liberties. Reform must limit the unwarranted influence of money and must also pay due regard to the effects of changes to political parties and particular types of candidates or sources of funding. A program of reform should be relatively simple to understand so that candidates and voters know the rules and administrators can apply them.
             Some basic principles of reform are: 1) Regulation should protect free speech and promote and informed society. 2) Regulation should protect the political system from corruption or the appearance of corruption. 3) Regulation should ensure public accountability. 4) Regulation should encourage public participation in the political system. 5) Regulation should promote electoral competition. .
             There are many recommendations on campaign reform in this country. The most important is the elimination of soft money.