Emory Corporate Governance and Accountability Review


In October of 2013, the Supreme Court heard oral arguments in McCutcheon v. FEC, a challenge to the aggregate contribution limits. On April 1, 2014, the Court struck down these aggregate limits as failing to advance the accepted government interest in preventing quid pro quo corruption or the appearance thereof, and therefore impermissibly burdening First amendment rights. What the Court's decision will mean for future election cycles is not yet clear. However, as this paper discusses, the removal of aggregate contribution limits will likely have a significant impact on the role of the shareholder in relation to corporate PACs and their election related activities.