Changes

Incumbents have an incentive to restrict the ability of challengers to raise money, and also to prevent independent groups to spend money criticizing the incumbents.  Repeatedly legislators have passed limitations on campaign spending, but some of those restrictions have been declared unconstitutional under the [[Free Speech Clause]] of the Constitution.<ref>''Buckley v. Valeo'' (1976).</ref>

Incumbents have an incentive to restrict the ability of challengers to raise money, and also to prevent independent groups to spend money criticizing the incumbents.  Repeatedly legislators have passed limitations on campaign spending, but some of those restrictions have been declared unconstitutional under the [[Free Speech Clause]] of the Constitution.<ref>''Buckley v. Valeo'' (1976).</ref>

"McCain-Feingold" imposed strict prohibitions on issue ads by any person or entity other than the candidates with two or three months prior to an election.  The [[U.S. Supreme Court]] eventually declared an application of this law to be unconstitutional.

The '''McCain-Feingold''' Campaign Finance Act imposed strict prohibitions on issue ads by any person or entity other than the candidates with two or three months prior to an election.  President [[George W. Bush]] signed it into law even though he had spoken against it in [[United States presidential election, 2000|his campaign]], and even though he declared in his [[signing statement]] that he considered parts of it unconstitutional under the [[First Amendment]].  The [[U.S. Supreme Court]] eventually declared an application of this law to be unconstitutional.  The Supreme Court is currently (as of January 15, 2010) considering other parts in the case [[Citizens United v. FEC]].

== References ==

== References ==