The Federal Election Commission (FEC) has announced changes to some political contribution and spending limits due to inflation, as required by the Federal Election Campaign Act. These updates affect various election-related limits, including those for party committee expenditures in elections and contributions made by individuals to candidates and political parties. The FEC also adjusted the threshold for reporting contributions bundled by lobbyists. These changes are meant to reflect cost-of-living adjustments over time and are effective for the 2021-2022 election cycle.
Simple Explanation
The Federal Election Commission makes sure that limits on how much people can give or spend on elections are fair even when prices go up, like making sure your allowance still buys the same amount of candy each year. They also keep track of how much lobbyists, or people who try to influence laws, can gather from others to help pay for campaigns.