In the aftermath of Watergate, a lot of the dirty politics that had been going on for a while came to light. Among them, the fact that Nixon got a lot of illegal donations from businessmen and corporations and so forth.
Working from memory, I think that at the time, donations from unions and corporations to parties and candidates was technically illegal, although it was normally overlooked by the law (that may be an and/or there since I can't recall if they could donate to parties with it being illegal to specifically donate to a specific candidate or if both were illegal) . If memory serves, the reform altered that rule, allowing corporations and unions to form Political-Action-Committees which could donate, and put a cap of I believe a thousand dollars on private donations (later amended to 2,000 sometime in the 90's I believe).
So what if the post-Watergate CFR didn't come to pass?
Working from memory, I think that at the time, donations from unions and corporations to parties and candidates was technically illegal, although it was normally overlooked by the law (that may be an and/or there since I can't recall if they could donate to parties with it being illegal to specifically donate to a specific candidate or if both were illegal) . If memory serves, the reform altered that rule, allowing corporations and unions to form Political-Action-Committees which could donate, and put a cap of I believe a thousand dollars on private donations (later amended to 2,000 sometime in the 90's I believe).
So what if the post-Watergate CFR didn't come to pass?