The number-two item that came out of the creation of the Federal Election Commission was the matching fund program, under which eligible candidates in the presidential primaries may receive public funds to match the private contributions they raise. The 1976 presidential election was the first time we ever had public funding in this country, and it was initiated on the basis that there might be a level playing field created for candidates for the parties' nominations. The theory is that the public needs to have an understanding of where politicians get their money, so it can evaluate the kind of votes they make and the kind of interest groups they are supported by. The law is like any statute. It is a barometer from which you can measure what is going on in your political system.
Money clearly drives the political process in our country.
It is an extremely necessary thing because it takes a great deal of money to participate. So without parameters on where money can come from and how much money a candidate may have and what kind of money he or she may utilize, voters would not have an opportunity to know who actually is participating in the process and trying to influence the outcome of the process. The national parties also receive funds for their nominating conventions. To qualify, the candidates and party committees must agree to limit their campaign spending to a specified amount, and they receive matching funds after establishing eligibility by showing broad-based public support. So you could certainly make an argument that these limits should be adjusted.