Law Commons^™

A More Sensible Approach To Regulating Independent Expenditures: Defending The Constitutionality Of The Fed's New Express Advocacy Standard, Michael D. Leffel

Michigan Law Review

Campaign finance reformers argue that the "unholy alliance of private money and public elections" has created "a crisis of confidence in our elected officials." The now-deceased campaign reform advocate Philip M. Stem summed up the role of money in campaigns this way: "[M]oney-power has replaced people-power as the driving force in American politics and the determinant of electoral victory." One form of "money-power" in elections that received a great deal of attention in the last election cycle was "independent expenditures." Independent expenditures are funds spent by interested individuals or groups - usually in the form of television or radio advertisements …