The presidential election fund was created in 1971 to provide <u>fund for presidential primary campaigns and national party conventions</u>.
<u>Explanation</u>:
Federal Election Campaign Act of 1971 was passed by the federal government of United States of America. This act was created to fund the presidential primary campaigns and national party conventions.
The government thought that this funding scheme can reduce the dependency of the government representatives on the donation from the private sectors. By doing this, the influence of large corporation and private sectors in the election can be reduced.
