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The Supreme Court Just Gutted Another Campaign Finance Law. Here’s What Happened.

The Supreme Court on Wednesday released its decision in McCutcheon v. Federal Election Commission, the blockbuster money-in-politics case of the current term. The court's five conservative justices all agreed that the so-called aggregate limit on the amount of money a donor can give to candidates, political action committees, and political parties is unconstitutional.

In the media
Andy Kroll

Supreme Court Strikes Down Another Limit on Campaign Contributions

Just days after 2016 GOP hopefuls traveled to Las Vegas to kowtow to billionaire Republican donor Sheldon Adelson, the Supreme Court has made it even easier for the ultra-rich to control elections. In McCutcheon v. FEC, the five conservative Justices ruled that aggregate limits in campaign contributions are unconstitutional. [...]

In the media
CAP Action War Room

Bigger Homes for Wealthy People, Thanks to the Home Mortgage Tax Break

I've been complaining about the deduction for home mortgage interest for years, so it's hard to say to something bad about this tax break that I haven't said myself.
Blog
David Callahan

A Huge Step Backward: New York State Fails to Pass Public Financing

Talk about a missed opportunity. Last night, the New York State legislature passed a $137.9 billion budget for the upcoming year. Senate Deputy Republican Leader Thomas Libous lauded the effort and said, “We, at least, have done our job and the budget is complete." Not quite. The budget may be complete, but legislators certainly did not do their job.

Blog
J. Mijin Cha

Affluent Voters and the Democratic Conundrum

 
Today's Republican Party does a great job of sticking up for rich people, which is ironic given that most wealthy Americans live in states and congressional districts that are represented by Democratic lawmakers -- which, of course, helps explain why Democrats also do such a good job of sticking up for rich people. 
 
Think of it this way: The GOP is ideologically committed to defending the rich, even as it increasingly speaks for white voters of modest means, while the Democratic Party -- which represents much of affluent Ame
Blog
David Callahan

Danger Zone: America's Retirement System Is Breaking Down

Roughly half of all U.S. families have no money set aside for retirement, Federal Reserve data show. Not a cent. But even that alarming savings deficit doesn't fully capture the emerging socioeconomic crisis facing what is, after all, a rapidly graying nation. [...]

In the media
Alain Sherter

Demos Denounces Budget Agreement Without Public Financing

Governor Cuomo and state leaders announced a budget agreement that left out the full public financing of elections.

Press release/statement

If We Don't Punish Past Financial Crimes, Future Ones Are Inevitable

Did you hear that one of the biggest banks in America just agreed to one of the biggest penalties ever for committing one of the biggest financial frauds in U.S. history? It happened just the other day and, no, chances are you didn't hear because the story was buried in the business section.
 
The bank is Bank of America. The penalty is $6.3 billion.
Blog
David Callahan

During March Madness Season, College Students Are Organizing Against Voter ID

Despite the fact that Tennessee has one of the most restrictive photo ID requirements for voting in the nation, the state is rarely discussed when voter ID is the topic. However, Tennessee’s law will now allow college students to use their university identification cards to vote, just like in Texas and North Carolina, the poster children of voter ID. In each case, it seems, students decided they were tired of being unseen and unheard.

Blog
Brentin Mock