The presidency of Gerald Ford began on August 9, 1974, when Gerald Ford became President of the United States upon the resignation of Richard Nixon from office, and ended on January 20, 1977, a period of 895 days. His presidency ended following his defeat in the 1976 presidential election by Democrat Jimmy Carter. After the 1972 elections, good government groups like Common Cause pressured Congress to amend campaign finance law to restrict the role of money in political campaigns. In 1974, Congress approved amendments to the Federal Election Campaign Act, establishing the Federal Election Commission to oversee campaign finance laws. In 1974, Congress approved amendments to the Federal Election Campaign Act, establishing the Federal Election Commission to oversee campaign finance laws. The amendments also established a system of public financing for presidential elections, limited the size of campaign contributions, limited the amount of money that candidates could spend on their own campaigns, and required the disclosure of nearly all campaign contributions. Ford reluctantly signed the bill into law in October 1974.