Obama Backs Campaign Finance: Finance Amendment Would be Massive Step Towards Better Democracy in America

Obama backs campaign finance amendment

AFP

US President Barack Obama called for a constitutional amendment to overturn a Supreme Court ruling that made it easier for businesses to influence elections through large-scale donations. “Money has always been a factor in politics, but we are seeing something new in the no-holds barred flow”.

From Wikipedia,

Campaign finance in the United States is the financing of electoral campaigns at the federal, state, and local levels. At the federal level, campaign finance law is enacted by Congress and enforced by the Federal Election Commission (FEC), an independent federal agency. Although most campaign spending is privately financed, public financing is available for qualifying candidates for President of the United States during both the primaries and the general election. Eligibility requirements must be fulfilled to qualify for a government subsidy, and those that do accept government funding are usually subject to spending limits on money.

Races for non-federal offices are governed by state and local law. Over half the states allow some level of corporate and union contributions. Some states have limits on contributions from individuals that are lower than the national limits, while four states (Missouri, Oregon, Utah and Virginia) have no limits at all.