Section: AP Government

28) In 1974, Congress enacted new campaign finance rules.  What was the major change in those rules?

1. All contributions, no matter how large or small, had to be publicly disclosed.
2. Individual contributions made to any candidate may not exceed $1,000.
3. Publicly elected officials were forbidden from making contributions to any campaigns.
4. Political action committee contributions may not exceed $5,000 per election.
5. It placed a limit on the amount each candidate could spend on television advertisements to $100,000 per election.

The Federal Election Campaign Act (FECA) of 1972 required candidates to disclose sources of campaign contributions and campaign expenditures. It was amended in 1974 with the introduction of statutory limits on contributions, and creation of the Federal Election commission (FEC). It attempted to restrict the influence of wealthy individuals by limiting individual donations to $1,000 and donations by political action committees (PACs) to $5,000. These specific election donations are known as ‘hard money.’