The Federal Election Campaign Act 1974 was amended to set legal limitations on campaign contributions, boosted transparency of contributions to federal campaigns.
A 1974 law that was passed to overhaul political finance. The act established the Federal Election Commission, offered public funding for presidential primaries and general elections, set spending caps, demanded disclosure, and made an effort to restrict contributions. Congress revised the Federal Election Campaign Act in 1974 to impose caps on contributions from individuals, political parties, and PACs in response to allegations of major financial misconduct during the 1972 presidential campaign. The Federal Election Commission (FEC) was likewise constituted by the 1974 amendments.
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