The Federal Election Campaign Act of 1971 set the foundation for campaign finance regulation in the United States and established the Federal Election Commission.
The Federal Election Campaign Act (FECA) of 1971, amended in 1974, limited the amount of money that individuals, political parties, and political groups could contribute to campaigns and provided guidelines for how campaign funds could be spent. The FECA also provided a system of public financing for presidential campaigns. It required that campaigns report their financial information to a newly established enforcement institution, the Federal Elections Commission (FEC), which would make it public.
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