Unregulated money continues to corrode US politics. Reforms are needed | Daniel I Weiner and Owen Bacskai

Watergate sparked a political reckoning 50 years ago. The scandal wasn't just an abuse of power, but it was a campaign finance scandal - with lessons for today

It was 50 years ago - on 9 August 1974 - Richard Nixon resigned as president amid the Watergate" scandal. In the American consciousness, Watergate typically means the botched break-in at the Democratic National Committee headquarters and the resulting illegal cover-up (facts that are newly relevant in the wake of the US supreme court's much-criticized decision on presidential immunity last month). But there is an equally relevant part of the story that is often skipped. Watergate was not just about abuse of presidential power. It was also a major campaign finance scandal.

By the time Nixon resigned, Americans were outraged to learn that the Watergate break-in and cover-up and other dirty tricks" had been financed from a secret slush fund made up of donations from corporations and wealthy individuals. In response, Congress passed historic reforms designed to increase transparency and curb the influence of big money in politics. This was a watershed moment that helped reshape the ethos of government in America. Today, however, our elections are once again dominated by big money and secret spending. The post-Watergate reforms are in dire need of repair.

Daniel I Weiner is director of the elections and government program at the Brennan Center for Justice at NYU Law

Owen Bacskai is a policy associate at the Brennan Center for Justice at NYU Law