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Campaign finance laws and policies in the United States (US) have always been a hot issue since the early days of the union. McCain Feingold (The Bipartisan Campaign Reform Act BCRA 2002) is the most recent and major federal law affecting Campaign Finance Reforms. The act’s key points prohibited all the unregulated contributions to the national political parties. They applied a specific limit to the use of union money as well as corporate money to fund ads that usually discuss all the political issues within a limited time span of the general election or primary election. This time period is typically 60 days in case of general elections and 30 days in case of primary elections.

Money is the key component of any democracy as it enables campaigning, representation, and political participation. In case it is not regulated in the best way, it may cause various issues and can undermine the integrity and reliability of political processes as well as political institutions that ultimately affect the quality of the democracy. Decided rules and regulations that are related to the funding of political parties and election campaigns are the most critical way to promote transparency, reliability, integrity, democracy, and accountability.

Digital Technologies in Political Finance

Over the last few decades, spendings and expenditures regarding political finance practices, reporting funds, and disclosure of political parties have changed drastically. Enhanced and improved digitalization is playing a very vital role in the flow of money in politics.

Deficiencies in Finance Campaign

The high cost of running a serious campaign for the Senate and House shrinks the pool of individuals who are actually willing to become potential candidates. Americans are fed up with the higher expenditures and big money in political campaigns. The second main issue is the conflict of interest that results in matters pending in congress. The third deficiency with the current system of finance campaigns is the failure to get adequate and appropriate information about the candidates across the country. Identifying the problems and issues associated with the campaign finance systems is really easier than identifying solutions and implementing best practices to overcome the above-mentioned deficiencies. There must be clear limits to what is permissible and what is not. These complications and problems usually suggest that those individuals who trust in the simple solution to campaign finance reforms are badly misunderstood and are on the wrong track. Those who only look for the virtues in the current procedures and put all their efforts and energies towards protecting the status are equally mistaken.

The Solution

Ensure that all political leaders represent the interest not only of the wealthy and powerful but require decreasing powers of money. Empower small donors. Well-established reforms can be designed and achieved by creating more diversity and winning competitive campaigns while focusing on the voice of people with low or moderate-income. This will increase transparency, reliability, democracy, trust, and accountability. Primary policies can be developed to decrease the conflict of interest and influence of money in political campaigns. Break down all the barriers for smooth functioning.

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