This Note will argue that even if money is not speech for First Amendment purposes, campaign contributions and expenditures are still crucial elements of the electoral process and ought to receive some constitutional protection. The United States Supreme Court has in its own election law jurisprudence the analytical tools required to strike a proper balance between the constitutional necessity of a free electoral system and the need to keep elections fair, open, honest and free from corruption. This Note will argue that under the Elections Clause and Qualifications Clause of the United States Constitution, Congress has neither plenary power to regulate campaign finances nor is Congress absolutely barred from enacting all but the most minimal . restrictions. Rather, the Supreme Court should apply a balancing test to determine whether a particular campaign finance regulation violates the basic principles of the electoral system.