Campaign-finance Reform

Abstract

The 1996 reelection of President Bill Clinton brought with it more questions than answers about the next four years. One of the most pressing questions is how the president (and Congress) intend to curb the enormous cost of running for Congress and the presidency. Campaign finance reform regulations generally focus on four basic goals: contribution restrictions, limiting campaign spending, public disclosure, and implementing a system of public financing (Alexander, 1992). Campaign finance reform is not only intended to lower the cost of running for office, but also to lessen the influence of money, especially that from special interests in the political system. The influence of political donors is a major concern of the American public (Yang, 1997). The proliferation of political action committees (PACs) and their impact on electoral outcomes, mainly as a result of campaign contributions, is the focus of public concern. Both major parties have alleged that the other has engaged in unethical and illegal campaign fund-raising activities, including accepting contributions from foreign sources. These charges, coupled with the record spending levels of candidates, political parties, PACs and individuals in the 1996 presidential and congressional elections, has left the public outraged and demanding a change.