Word: pac
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...most members have headed home for the final stretch of the 1982 campaign, candidates can still be found buzzing back to Capitol Hill. They know that Washington is where the money is these days, or at least where one dips into the honeypot of contributions from political action committees (PACs). In a circular chase that is dominating congressional politics as never before, the candidates are courting the PACs, and the PAC-men are courting the candidates. "Harry Truman said that some people like government so much that they want to buy it," says Democratic Congressman David Obey of Wisconsin...
This year there are 3,149 PACS placing their antes into the political pot, up from 2,551 in 1980 and 113 in 1972. The estimated total of funds they will dispense for campaigns this year: a staggering $240 million. There is Back Pac, PeacePac and Cigar-Pac. Beer distributors have a committee named-what else?-SixPAC. Whataburger Inc. has one called Whata-Pac. The Concerned Rumanians for a Stronger America has a PAC, as does the Hawaiian Golfers for Good Government. And so do most major corporations and unions...
...PAC can give $5,000 to both a candidate's primary and general election campaigns, while an individual contributor can give only $1,000 to each. Presidential elections are financed by federal funds, so most of the money is channeled into congressional, state and local races. Since PACs tend to run in packs, a popular candidate, particularly a powerful incumbent, may raise more than half his war chest from these
...accept from PACs. A bill setting a $70,000 limit on the amount a House candidate could raise from PACs passed the House in 1979, but died in the Senate. A new measure has been introduced in the House setting the PAC money ceiling...
...ideal reform would incorporate elements of each of these proposals. Partial federal financing, either by direct grants or matching funds, could water down the importance of PACs. So could raising the private contribution limit. Increasing the amount people can donate to the national parties, currently $20,000 each year, could strengthen the role of the parties. Finally, setting a reasonable limit on the amount a candidate can get from PACs, certainly no more than $75,000 an election, would rein in the PAC...