Stock Groups

U.S. Supreme Court to consider Senator Cruz’s campaign finance challenge By Reuters

by Mike Robinson

[ad_1]

3/3
© Reuters. FILEPHOTO: Ted Cruz of Texas speaks in the Senate Judiciary Committee’s hearing entitled “Texas Unconstitutional Abortion Ban & the Role of the Shadow Docket”. Hart Senate Office Building. Washington. U.S.A. September 29, 2021. Tom Williams/

2/3

By Andrew Chung

(Reuters) -The U.S. Supreme Court on Thursday agreed to hear the Federal Election Commission’s bid to restore a campaign finance law that caps the amount of money that candidates can be reimbursed for personal loans to their campaigns in a challenge brought by Republican Senator Ted Cruz.

FEC appealed to a lower court ruling which found that the limit violated the First Amendment right of free speech. The cap also unjustifiably burdened political expression.

In this case, a 2002 law on campaign finance limits how much money candidates can receive from donors in order to recover money they have personally borrowed to their campaign groups.

This measure, part of the Bipartisan campaign Reform Act, imposes a $250,000 ceiling on donations after elections. It applies to all loans made by candidates.

After his 2018 Senate election victory in Texas, Cruz sued FEC to challenge the constitutionality and enforce the law. Cruz had loaned $260,000 to his campaign but his law limited him to $250,000 of reimbursement by his campaign.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. Instead, they are determined by marketmakers. As such, the prices might not reflect market conditions and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of the potential risks and financial costs involved in trading the financial market. It is one the most risky forms of investment.



[ad_2]