What was the primary purpose of the Campaign Finance Reform legislation passed in 1974?

The primary purpose of the Campaign Finance Reform legislation passed in 1974 was to place limits on political candidates accepting money and gifts. This legislation was introduced in response to concerns over the influence of money in politics, particularly in the wake of the Watergate scandal. The law sought to ensure fairer electoral processes by establishing contribution limits to campaigns, requiring disclosure of campaign finance information, and introducing spending limits for candidates who accepted public funding.

By regulating the flow of money into political campaigns, the legislation aimed to diminish the potential for corruption and to equalize the playing field among candidates. This was an important step in promoting transparency and accountability within the political system, as it aimed to provide voters with information about where candidates were receiving their funding and to curb the undue influence that large donations could exert on political decisions.