The big story for the 2012 elections has been the rise of super PACs, or, independent expenditure committees. How did we get super PACs, what do they do, what can they do and what are the legal restrictions on them?
The legal underpinnings
What is a super PAC and how does it work?
A super PAC is a political committee registered with the FEC. As such, it must file periodic reports disclosing its donors and its expenditures. It may accept unlimited contributions from individuals, labor unions and corporations.