A state could have no limits and no disclosure if it wants.
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How is it illegal? Just because it is constitutionally permissible to limit candidate fundraising for super pacs doesn't mean it is required https://twitter.com/by_jmiller/status/910597789066854400 …
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Aren't there FEC rules against coordination?
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state elections
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Yep. It's looking at the issue backwards.
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Exactly. Arguably they could allow out and out bribery if they really wanted to.
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