Supreme Court Ruling on Campaign Contributions
April 03, 2014
Campaign Contributions Can Now Be Made to an Unlimited Number of Candidates after McCutcheon v. FEC Ruling
On the Hill
- In a 5-4 Supreme Court decision on McCutcheon v. FEC released yesterday, a long-standing campaign finance restriction capping the amount an individual can give to federal candidates and parties over a two-year election cycle was essentially removed. Although a donor will still be prohibited from giving greater than $5,200 to any one candidate, under the new law, an individual donor will be able to donate the maximum amount to an unlimited number of candidates, party committees and PACs. In his dissenting opinion, Justice Stephen Breyer expressed concern over “quid pro quo legislative favor[s]” that could result from the new provision.
- Initial jobless claims, which show the number of individuals filing for unemployment insurance for the first time, increased by 16,000 to a total of 326,000 claims. The four-week moving average is stable at 319,500. This is 20,000 claims lower than the month-ago comparison.
- Gallup’s Payroll to Population employment rate, based on a nationally-representative sample of 1000 adults, measures the number of Americans who are employed by an employer for at least 30 hours per week. The March P2P rate decreased slightly to 42.7%.
- The Challenger Job-Cut Report, which counts and categorizes corporate layoffs, declined significantly in March 2014. Layoffs decreased to 34,399. This is one of the lowest totals of the recovery, indicating positive momentum for the employment market.
- The International Trade Gap widened in February to $42.3 billion. Exports declined by 1.1% and imports increased by 0.4%.