Essay About Political Action Committee And Issue Of Political Financing

Political Action Committee (pac) – Essay – sassyiaras
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Political Action Committee (pac)
In 1907 the issue of political financing was first introduced when the State of Union believed wealthy men were buying their way into the White House. By the 1940’s, new acts and organizations were created in attempts to regulate the amount of money political campaigns were receiving. Groups such as the Political Action Committee (PAC) strictly limited the quantity of money that an individual can directly donate to a running candidate. As a result of the limitation of campaign money, other organizations like the Section 527 Committee and the Super Political Action Committee (Super PAC) were built to supply politicians with more money. Despite each committee having their own separate approach in funding politicians, all of these organizations share similar ideals and have gain inspiration from one another. Due to the differences and similarities the Political Action Committee and Section 527 Committee obtain, one can see how the Super Political Action Committee origins from these two organizations.

During 1940’s the first Political Action Committee group was formed in hopes of raising money for the re-election campaign of Franklin D. Roosevelt. A year prior to the first PAC meeting, the Smith-Connally Act of 1943 was passed, prohibiting unions from funding political campaigns. The act was created as a response to the dominant influence of labor unions election during the Great Depression. As a result of the Smith-Connally Act, the Congress of Industrial Organizations created PACs to provide funds for individual candidates. A PAC is an organization that gives money directly to a running candidate instead of the political party or campaign. These organizations receive unbidden donations funds from union members rather than union treasuries, therefore not disobeying the Smith-Connally Act. The most committee can accept from an individual is 5,000 dollars annually. The PACs also have a limit of how much money can be funded towards candidates, political parties, and other PAC groups. “PACs can give $5,000 to a candidate committee per election (primary, general or special). They can also give up to $15,000 annually to any national party committee, and $5,000 annually to any other PAC ”(OpenSecrets, 2012). These PACs are still used today to fund presidential and political campaigns. However other organizations have been formed subsequently to the creation of PACs. These new committees do not restrain from giving or receiving funds.

The Bipartisan Campaign Reform Act of 2002, banned the use of non federal money also know as “Soft Money” for federal campaigns. “Soft Money” is money donated to the particular candidate to support their political actions. Despite it being a law, organizations like the Section 527 Committee, were exempt from following the Bipartisan Reform Act. These committees are the outcome of an Internal Revenue Services (IRS) loophole. Instead of reporting to Federal Election Commissions, the Section 527 organization informs the Internal Revenue Service due to an outlet they discovered. “These groups are the result of a loophole which was opened more than 25 years ago when the IRS broadened its definition of the types of groups eligible for tax-exempt, non-profit status as political committees” (Willis, 2014). The definition was broader than the FEC’s, allowing groups to gain political committee status under tax law. Both the Section

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(2018, 09). Political Action Committee (pac). EssaysForStudent.com. Retrieved 09, 2018, from
“Political Action Committee (pac)” EssaysForStudent.com. 09 2018. 2018. 09 2018 < "Political Action Committee (pac)." EssaysForStudent.com. EssaysForStudent.com, 09 2018. Web. 09 2018. < "Political Action Committee (pac)." EssaysForStudent.com. 09, 2018. Accessed 09, 2018. Essay Preview By: sassyiaras Submitted: September 18, 2018 Essay Length: 885 Words / 4 Pages Paper type: Essay Views: 230 Report this essay Tweet Related Essays Hitler's Body and the Body Politic I study ideology as if manifest content of a dream, seeking to comprehend the ideology's latent content or unconscious meaning. I observe recurring images and 392 Words  |  2 Pages Enlightenment Versus British Political Control - the Colonial American Enlightenment Ideals Compared to the British Oppression Enlightenment Versus British Political Control The Colonial American enlightenment ideals compared to the British oppression The development of enlightenment ideals such as equality, democracy, and 914 Words  |  4 Pages Cavour's Main Means of Politics Greatly Influenced His Aims and Actions That Led to the Unification of Italy Count Camillo Benso di Cavour (1810-1861) was the second son of an aristocratic Piedmontese family. Being the second son of a nobleman, Cavour was supposed 893 Words  |  4 Pages Unconventional Political Action The unconventional political action is unnecessary on numerous grounds, including taking away freedom of choice and it denigrates the foundation of democratic societies. Many societies 312 Words  |  2 Pages Similar Topics Christians Politics Confrimation Politics Closer Look Get Access to 89,000+ Essays and Term Papers Join 209,000+ Other Students High Quality Essays and Documents Sign up © 2008–2020 EssaysForStudent.comFree Essays, Book Reports, Term Papers and Research Papers Essays Sign up Sign in Contact us Site Map Privacy Policy Terms of Service Facebook Twitter