National Press Foundation: Why Limit Campaign Contributions?
By Chris Adams
David Keating, president of the Center for Competitive Politics, hears all about efforts to “reform” campaign finance and he asks, Why?
Reviewing the literature on electoral competitiveness, public corruption and the flow of money into campaigns, Keating finds no relationship between money spent and important indicators of robust politics or clean governance. Since adoption of the Federal Election Campaign Act in the 1970s, for example, the number of elections with double-digit shifts in Republican or Democratic seats in Congress has dropped. And over the past 40 years, trust in government has dropped as well.
“I think the impact of these contributions is way overblown,” said Keating.
Keating and his center work to promote and defend First Amendment rights to free political speech, engaging in litigation and training designed to ease restrictions on political donations. In a presentation with NPF Paul Miller fellows, Keating said he would like to get rid of contribution limits to campaigns; substantially raise the financial threshold for something being declared a political action committee; and raise the threshold for what constitutes a small donor who doesn’t have to be disclosed (right now, it’s $200; he would raise that to $1,000).