History
Citizens United v. FEC:
January 21, 2010
Supreme Court decision that allows for unlimited corporate and union spending in elections.
Speechnow.org v. FEC:
March 26, 2010
D.C. Circuit Court of Appeals ruled that donation limits to independent expenditure committees violated the First Amendment in the wake of Citizens United.
The Super PAC is born:
July 22, 2010
The FEC announces it will allow registrations of a new kind of PAC: “Independent Expenditure Only multi-candidate non connected political committee” which is soon called the Super PAC by the media.
Midterm Elections:
November, 2010
$90.4 million was spent by the 79 registered Super PACs, despite their short existence of a matter of months. American Crossroads, a Republican allied Super PAC, spent the most cash: over $21 million
2012 Election Cycle:
As of late March, over $153 million had been raised and $81 spent by 397 registered Super PACs. Top raising PACs:
- Romney’s Restore Our Future: $43 million
- American Crossroads: $26 million
- Gingrich’s Winning Our Future: $18 million
- Obama’s Priorities USA Action: $6 million
Top 3 pulled in 99% of donations of more than $25,000; Obama’s was 95%
