1、1 Although such limits exist in presidential races (and in some states and localities), these limits areaccepted voluntarily by candidates, usually in exchange for public funds or benefits.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder
2、Code 97-91 GOVUpdated March 15, 2002Soft and Hard Money in Contemporary Elections: What Federal Law Does and Does Not RegulateJoseph E. CantorSpecialist in American National GovernmentGovernment and Finance DivisionSummaryFinancial activity in federal elections is governed by federal statutes, which
3、 haveevolved under the influence of various court rulings. The Federal Election Campaign Act(FECA) of 1971, as amended, imposes limitations and prohibitions on money fromcertain sources and requires public disclosure of money raised and spent in federalelections. Based on the Supreme Courts 1976 Buc
4、kley v. Valeo ruling, federal lawgenerally does not impose mandatory limits on campaign spending by candidates orgroups.1 While federal law regulates some types and sources of campaign money, othertypes and sources are exempt from coverage. Also, there are wide differences in whatfederal law allows
