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The number of PACs and the money spent by PACs in elections have not declined but have significantly increased, showing their significant impact on campaign finance.
False: The statement that both the number of PACs and the amount of money PACs spend on elections have declined is incorrect. In fact, the number of PACs has significantly increased over the years, with over 4,600 PACs today, and they play a major role in campaign finance.
Political Action Committees (PACs) are organizations created to raise money for political campaigns and influence policy and politics. They raise substantial amounts of money, as seen in the over $1.7 billion raised in the 2014 congressional elections to support candidates and political parties.
The bulk of spending on campaigns comes from corporate and trade association PACs, illustrating their significant financial impact on elections compared to labor and non-connected PACs. This demonstrates the ongoing importance of PACs in the electoral process.
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