Sarah Keith American Government Prof. Scott Harvin February 26, 2007 Position Paper: Campaign Finance Reform Money and Politics: Like Peas and Carrots Elections and money have been associated since the process first began, but the level of allowed involvement of money has changed dramatically. The cost of current elections as compared to those decades ago has risen to an astounding level. In 1992, the total of presidential and congressional elections was $1.8 billion, but by 2004 the amount was over $4 billion (Almanac of Policy Issues 1). With the passing of the Federal Election Campaign Act (FECA) in 1971, reform efforts began limiting special interest groups and wealthy individuals. Most recently, the McCain � Feingold law of 2002 set limits on both soft and hard monies involved in political campaigns. Some would argue that limiting campaign monies protects the nation from elitist group control, and others believe that setting these limits restricts free speech protected by the First Amendment. Bill O�Reilly stated in a televised memo that he believes that �many p......

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