Thursday, February 21, 2013

Giving Until It …..Pays: Huge Supreme Court Case Could Change Everything About Wall Street In Politics

From BI: The U.S. Supreme Court is going to hear a campaign finance case that could do away with the contribution limits that limit rich people's influence over politics. Currently, federal law only lets individuals give $2,600 to any one candidate during a single election. On top of that limit, people can only give $123,000 to candidates, political action committees, and parties over a two-year period.

Shaun McCutcheon, an Alabama Republican, is only challenging aggregate, two-year caps on direct donations to parties or candidates.  But this case could jeopardize all campaign finance limits – including the $2,600 cap on contributions to individual candidates, according to one election law expert....

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