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Jeffrey Milyo, David Primo, and Timothy Groseclose, "Corporate PAC Campaign Contributions in Perspective," in Business and Politics (April 2000), Carfax Publishing, Box 25 Abingdon OX14 3UE, England.
Milyo of the University of Chicago and Primo and Groseclose of Stanford contend corporate political action committees (PACs) aren't as influential as critics claim: "There is a dearth of systematic and consistent evidence to support the conventional wisdom that money plays a dominant and nefarious role in American politics."
PACs can give no more than $5,000 ;: to a candidate in each two-year election cycle, a figure unchanged since 1976. The number of PACs has remained fairly constant. Between 1986-98, there were about 4,000 PACs in the U.S., spending between $203 and $230 million per cycle.
About 35 percent of PAC spending is made by corporate PACs, while labor supplies 20 percent and associations provide 28 percent. Seventy-one percent of PACs spending ...
Source: HighBeam Research, The Facts About PACS.(Brief Article)