ABSTRACT
The most likely campaign finance reform scenario some further restrictions will be placed on Political action committee (PAC) contributions and large, well-financed PACs will compensate by increasing their independent expenditures. When Congress passed the 1974 amendments to the Federal Election Campaign Act it established not only limits for individual, party and PAC contributions to congressional campaigns but it also established limits on what individuals and organizations could spend on independent expenditures. The growing tendency of independent expenditures to be in support of incumbents reinforces the existing bias of PAC contributions to incumbents, thus further reducing opportunities for competition in congressional elections. Independent expenditures raise concerns because they have the ability to affect an election outcome, without any accountability to the candidates involved in the election, and, at least at the moment, any requirement to make their purpose known to potential voters.
