Is the current system of campaign finance/elections fair - Research Paper Example

According to Hurley & Debenedetti, the supporters of campaign finance regulation have been at the forefront of highlighting some of the benefits of this move despite the move lacking any significant impact so far since it was introduced. Previous efforts made by political leaders to control the campaign finance have been significantly disastrous ending in prolonged court battles and losses on the sides of the fronting for the regulations. Through the enactment of campaign finance regulations, a number of political dreams and aspirations will be killed as the grass root mobilization will be capped significantly thus affecting the participation of the citizens in the fundraising exercises (Campaign Finance Institute).

Campaign finance regulations Ayres highlighted how the first amendment also strengthened the need for the generation of campaign finances and all the efforts that have thus been developed to regulate the campaign finances are geared towards infringing on the first amendment rights of the citizens. . The processes of regulating campaign finances started in the late 19th century when the first campaign finance regulatory law was passed by the country’s legislature. The reason for the development of these regulations stemmed from the perceived corporate participation in party, federal and presidential elections in the country.

The first regulatory law enacted required all political parties and their candidates to disclose their sources of finance and the amount contributed by the financiers (Williams 8). Some states enacted legislative laws that prohibited corporate members and other private companies from bank rolling political campaigns in the states. The banning of the participation of the corporate world from participating on political fundraising and attempts to increase campaign finance was first done in 1907.

Other laws subsequently followed, most of which were enacted by the central government which made it mandatory for political parties to disclose their sources of finance and provide statements of account after every election. These laws affected the political landscape of the country and reduced the source of political financing for several parties and candidates in the country (Wilcox 5). The enactment of the FECA regulation demonstrated who far the campaign regulation crusade would reach as it produced far reaching political ramification in the country.

This law affected the ability of most candidates without fat bank accounts to vie for the top offices in the land for their avenues of fund raising were capped by the act. This act reduced the contribution of an individual in a political campaign to $1,000 per