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The work examines the legal challenge to the new Bipartisan Campaign Finance Reform Act (BCRA) which is in federal court. Both sides have assembled expert reports and testimony from some of the US's best-known academic experts and political practitioners. These materials, filed with the court but difficult for the general public to access and evaluate, provide a window onto contemporary practices and disputes over party soft money and issue advocacy.

Ronald Reagan started it, back in 1977. George Bush perfected the art in 1988. In the 1980s and 1990s, Democrats as well as Republicans running for president (or thinking of doing so), have followed Reagan's lead in establishing precandidacy PACs as a way of raising more money faster, without the regulatory rigors laid down by Congress and the Federal Election Commission. Marshalling years of experience on the campaign trail, Anthony Corrado has documented for the first time the fundraising and spending patterns of presidential candidates who feel forced to circumvent the system in order to...

An overview and analysis of campaign finance, including: the history of campaign-finance regulation and the current state of the law; current practices and trends in the flow of money; and the constitutional debate. The authors conclude with a broad overview of alternative approaches to reform.