Presidential
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Campaign Finance Reform Act
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Finance Reform
Because it costs so much to run for office, interests with big money to contribute to candidates or spend on ad campaigns are able to get special access in Congress. Campaign finance laws on the books are supposed to limit the power of wealthy interests, but the search for ever-increasing sums of money to finance campaigns has led politicians and both parties to stretch the rules and create new loopholes – not to mention promoting legislation that serves the interests of the wealthy and powerful, rather than ordinary Americans.
Throughout my career in the U.S. Senate, I have pushed to bring more Americans into the political process rather than letting wealthy interests having all the say. These efforts included the Bipartisan Campaign Reform Act, better known as McCain-Feingold, which I worked with Senator John McCain (R-AZ) to pass in 2002. Our bill effectively banned the biggest loophole in our campaign finance system – unlimited "soft money" contributions from corporations, unions, or wealthy individuals.
While the January 2010 Citizens United decision was a terrible mistake, the decision does not affect McCain-Feingold's soft money ban, which was the primary purpose and achievement of McCain-Feingold, and will continue to prevent corporate contributions to the political parties. I will continue to work with my colleagues to pass legislation restoring as many of the critical restraints on corporate control of our elections as possible. Learn more about the impact of the Citizens United decision on McCain-Feingold.
The McCain-Feingold legislation was a milestone for campaign finance reform, but there is much work to be done, particularly in light of the Citizens United decision. In addition to addressing the calamitous impact of that decision to the extent we can, we need to move toward public financing of congressional elections, fix the presidential public financing system, require electronic disclosure of Senate campaign finance reports, and much more. This section of my website is dedicated to my efforts to level the campaign playing field and improve our democratic system.
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