1、1 The FECA mandates use of federally regulated money, known as hard money, in federalelections; by definition, it does not apply to so-called soft money activities that may indirectly affectfederal races. This report examines only hard money regulations. For a discussion of these termsand their rele
2、vance, see: CRS Report 97-91 GOV, Soft and Hard Money in ContemporaryElections: What Federal Law Does and Does Not Regulate, by Joseph E. Cantor.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web97-1040 GOVUpdated March 8, 2000Campaign Financing
3、: Highlights and Chronologyof Current Federal LawJoseph E. CantorSpecialist in American National GovernmentGovernment and Finance DivisionSummaryCurrent law governing financial activity of campaigns for federal office is based ontwo principal statutes: the Federal Election Campaign Act (FECA) of 197
4、1, as amendedin 1974, 1976, and 1979, and the Revenue Act of 1971. These laws were enacted toremedy widely perceived shortcomings of existing law, the Corrupt Practices Act of1925, and in response to reports of campaign finance abuses over the years, culminatingin the 1972-1974 Watergate scandal. Th
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