Federal law caps individual contributions to candidates, PACs, and party committees, with limits adjusted for inflation each cycle. Following Supreme Court decisions including Buckley v. Valeo, Citizens United, and McCutcheon, limits apply to direct contributions but not to independent expenditures or to super PACs that operate independently of candidates.
Proponents of stricter limits — or of restoring caps struck down by McCutcheon — argue that large donors gain disproportionate access and influence, that the appearance of corruption corrodes public trust, and that small-dollar fundraising programs can fill the gap when limits are tight.
Opponents argue that contribution limits restrict political speech, that they have not reduced the role of money in politics (which has shifted toward independent expenditures), and that limits create incumbency advantages and force more money through less-transparent channels. Some argue limits should be raised, indexed to inflation, or eliminated outright in favor of disclosure-based regulation.