The State of Campaign Finance Policy: Recent Developments and Issues for Congress

Major changes have occurred in campaign finance policy since 2002, when Congress substantially amended campaign finance law via the Bipartisan Campaign Reform Act (BCRA). Recently introduced legislation proposes substantial changes to several aspects of election law. With respect to campaign finance, the bills would restructure the Federal Election Commission (FEC), implement public financing of campaigns, regulate online and digital political advertising, and require additional reporting. Although most campaign finance legislation proposes to amend the Federal Election Campaign Act (FECA), provisions in recent appropriations laws also have required or prohibited some reporting requirements surrounding contributions, expenditures, or foreign interference in U.S. campaigns.Debate over disclosure and deregulation have been recurring themes in Congress and beyond. Legislation to require additional information about the flow of money among various donors, the DISCLOSE Act, passed the House during the 111th Congress and was reintroduced during subsequent Congresses. Congress also has considered alternatives thatinclude some elements o f DISCLOSE and proposals that would require additional disclosure from certain 501(c) groups. The debate over whether or how additional disclosure is needed has also extended to the Federal Election Commission-and congressional oversight of the agency- and the courts.During the same period, statutory and judicial changes eased some contribution limits and affected the presidential public financing program. This report considers these and other developments in campaign finance policy and comments on areas of potential conflict and consensus. This report emphasizes issues that have been most prominent in recent Congresses. It also discusses major elements of campaign finance policy.