Word: pacs
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Dates: during 1970-1979
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This debate is raging over the fastest growing and most controversial phenomenon in U.S. politics: the corporate political action committee (PAC). Last week 13 experts at a seminar in Washington argued about the impact of the groups on the November House and Senate elections and could agree on only one thing: corporate PACs pack a lot of punch...
...clout of PAC stems from the campaign amendments of 1974, limiting individuals' political contributions to $1,000 a candidate. This blocked corporate executives from donating huge sums to pro-business politicians. But the legislation encouraged the formation of corporate PACS that can give candidates up to $5,000 apiece per election. The PACs raise most of their money from executives and stockholders. The law also allows them to appeal twice a year to rank-and-file employees for anonymous donations...
...Union PACs favor Democrats over Republicans by a ratio of about 12 to 1. By contrast, the corporate donations this year were split about equally between Democrats and Republicans. Most of the money went to incumbents with lots of seniority. Says John Bonitt, head of Bendix Corp.'s PAC: "That's where the committee chairmen are." Louisiana Democrat J. Bennett Johnston, who heads Senate subcommittees on energy and appropriations, received at least $192,000 from about 190 PACs, though he had only token opposition in the primary and none in the general election. Why so much support? Says...
Even candidates with no serious opposition get PAC money. Chicago Representative Dan Rostenkowski, for example, received more than $69,000 because he happens to chair a subcommittee dealing with health problems. His contributors included the American Dental PAC, the American Medical PAC and the Oral and Maxillofacial Surgery PAC...
...spot pretty well those black organizations which are saying the things that will have mass support. It's not always those who have the largest numbers on their membership lists at the moment. In South Africa it would be the African National Congress (ANC), the Pan-Africanist Congress (PAC), and the Black People's Convention...