Federal Election Campaign Act

Law

1. set strict limits on the amount of money a particular corporation, union, or private individual could give to a candidate in a federal election. It also required candidates and political action committees (PACs) to disclose their receipts and identify their contributors. A 1974 amendment specified additional contribution limits and imposed spending limits for candidates in primary and general elections; however, the Supreme Court struck down the latter provision as unconstitutional in Buckley v. Valeo, 424 U.S. 1 (1976). The 1974 amendment also set up the Federal Election Commission and established public funding of presidential elections. Two additional amendments (1976, 1979) were aimed at regulating PACs and boosting the level of party participation.