What was in the federal election campaign act that was passed after watergate? what were the consequences of that law? what are independent expenditures? soft money?

The Federal Election Commission is an independent agency that was established by the 1974 amendments to the Federal Election Campaign Act of 1971 passed after President richard m. nixon resigned in the wake of the Watergate scandals, which included charges of abuse of power and Obstruction of Justice involving campaign contributions-set out financial rules governing campaigns for federal office. The FEC was designed to act both as a clearinghouse for information on federal campaign laws and as the enforcer of campaign laws.