What were the main impacts of the Federal Election Campaign Act (1974)?

- Legal limits on campaign contributions - private individual can only donate $2,700 and a group can only donate $5,000 to an individual candidate - Creates a maximum expenditure limit for each candidate in the presidential election - Requires candidates to disclose sources of campaign contributions and campaign expenditure - Created federal funding of presidential and primary elections, which works on a matching funds basis - to quality a part must receive 5% or more of the vote in the previous election - Created PACs (Political Actions Committees)