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political action committee

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia 0.01 sec.
political action committee (PAC), U.S. organization formed by a corporation, labor union, or association to raise money for political activity. Funds can be gathered by voluntary contributions from members, employees, or shareholders. Political action committees were first organized in the 1940s. The Political Action Committee organized by the Congress of Industrial Organizations (CIO) in 1943 was a model for later PACs. Since the election reform of 1974, which limited individual campaign contributions and set guidelines for PACs, their numbers grew rapidly to more than 4,000 in 1988; they now number about 3,800. Many represent special-interest groups, e.g., the National Rifle Association of America; others represent large conservative or liberal coalitions. Most PACs have directed their contributions toward congressional elections, in which they can contribute up to $5,000 to a candidate for each campaign (primary, runoff, and general election). Some, however, have conducted independent negative campaigns against candidates they oppose. Increased campaign contributions by PACs have raised fears that legislators may accede to pressure from these groups and become less responsive to their constituents. Federal legislation enacted in 2002 forbids attacks on candidates by name immediately before an election.

political action committee (PAC)

In U.S. politics, an organization whose purpose is to raise and distribute campaign funds to candidates seeking political office. PACs rose to prominence after the Federal Election Campaign Act (1971) limited the amount of money any corporation, union, or private individual could give to a candidate. PACs were able to circumvent these limits by soliciting smaller contributions from a much larger number of individuals. During the late 20th and early 21st centuries the vast amounts of money raised by PACs greatly increased the cost of running for office and led to efforts to reform this method of financing campaigns.



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Byline: ANI Washington, Nov 23 (ANI): The US-India Political Action Committee (USINPAC) has welcomed Prime Minister Manmohan Singh on his State Visit to the US.
That's why the political action committees of CUNA and NAFCU each gave money in September to the campaign coffers of both men.
Williamson WORCESTER - A former secretary at The Hanover Insurance Group has been barred from getting involved with political action committees after she acknowledged stealing $22,000 from two PAC accounts at the Worcester insurance company.
 
 
 
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