Virginia Tightens Rules on PACs Formed by Out-of-State Politicians
Here is a topic that many of us talked about in our presentations: campaign funding by PACS. Virginia is proposing new legislation that will stop out of state politicians from getting unlimited funding from the commonwealth since there is no restrictions on how much money can be donated. Virginia is one of 13 states that have no previous legislation on this issue. This will definately have an affect on campaign financing and I definately support this new legislation. I think some campaign financing has gotten out of control due to minimal restrictions.
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It is notable that the new law merely requires that half of all funds collected by any PAC established in Virginia go to candidates for office in Virginia rather than cap the amount that any individual or corporation may give to each PAC. This is a rational decision by the Virginian state legislature because it allows for greater financing of Virginian candidates than otherwise. So, out-of-state candidates will likely continue building their war chests in states such as Virginia (as 12 other states do not have an individual or corporate contribution cap) even as an increasing proportion of no-limit contribution states pass bills requiring some proportion or another to be given to in-state candidates. After all, a Virginian PAC needs only to double its fundraising in order to generate the same amount of funding for out-of-state candidates under the new law that it did before passage. Virginian candidates will be thankful for this extra financial boost.
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