‘US electoral financing system based on private fundraising & transparency’

Washington/New York: America’s electoral financing system is based on private fundraising and emphasis on transparency, with a candidate allowed to accept up to $3,300 from any individual while the limit for party committees is $41,300, according to a top US Federal Election Commission official.

Ellen L Weintraub, Vice Chair of the US’s Federal Election Commission, spoke to PTI in an interview taken following the recent landmark ruling by India’s Supreme Court to scrap the central government’s electoral bonds scheme of anonymous political funding, calling it “unconstitutional” and ordering disclosure of the bond’s donors, amount and recipients by March 13.

“We have a system that is based on private fundraising, but public transparency. Most of the money is raised privately, but it does have to be disclosed on a regular basis,” Weintraub said.

The Federal Election Commission (FEC) is the independent regulatory agency charged with administering and enforcing the federal campaign finance law.

The FEC, which is led by six Commissioners, has jurisdiction over the financing of campaigns for the US House, Senate, Presidency and Vice Presidency.

Unlike the Election Commission of India, the FEC members are political appointees. The current FEC has three members each from the Republican and Democratic parties.