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Word Count: 760
Financing elections is one of the major and disputable problems that American politics face presently Analysts became worried that the rising costs of campaigns distort elections in the interests who have the money Also another problem that worried people and analysts was that the politics seemed to be leaving the realm of political parties and those who had the money to afford expensive media campaigns won the privilege of governing us Next reformers required and applied new reforms in the campaign financing Many more people are concerned about where the money for campaigns comes from This type of concern led to the laws that prohibit individuals from contributing large sums of money to specific campaigns The assumption is that these individuals contribute huge sums of money in hope of some later benefit Let me talk a little about history of reforms Reformers put restrictions on campaign money for more than a century In 1907 the Tillman Act prohibited contributions from corporations and national banks to candidates for federal office Enforcement and further legislation to restrict campaign money were weak for decades after that until the Watergate scandal erupted before the 1972 election Secret and illegal contributions had been made to Nixons re-election campaign in1972 Congress responded by amending a 1971 law that required reporting of campaign contributions and expenditures The amendments imposed strict limits on both contributions to candidates and parties and spending by candidates in federal elections An individual for example could give a maximum of 1000 to a candidate for federal office and 20000 to a political party But the major change in the funding came with the case Buckley v Valeo Conservative New York Sen James Buckley and liberal former Minnesota Sen Eugene McCarthy challenged the law They argued that the limits in the law violated their own First Amendment rights as candidates as well as the rights
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