Proposing an amendment to the Constitution of the United States to set limits on Federal campaign contributions and spending, prohibit corporate spending in the political process, require Congress to develop a system of public campaign financing for all Federal candidates who qualify for the ballot, and allow the States to set reasonable limits on campaign contributions and spending in State and local elections, and for other purposes.
This joint resolution proposes a constitutional amendment to dramatically reshape federal campaign finance. It would set nationwide limits on how much individuals can spend or contribute to influence federal elections, ban corporate spending in federal contests, and require Congress to create a comprehensive public financing system for all federal candidates who qualify for the ballot. The amendment would also authorize states to regulate money in state and local elections and establish enforcement mechanisms with penalties. A key feature is a 60-day window after ratification for Congress to enact implementing legislation that would define the spending limits, set up the public financing, and direct any unspent campaign funds to the Treasury. The measure would also condition congressional pay on the phase-in of the required public-financing framework. In short, if ratified, this amendment would curb private money in federal elections, outlaw corporate spending at the federal level, and shift significant funding for campaigns to a government-public financing model, while preserving a role for states in regulating money in elections at the state and local level. It also includes concrete enforcement provisions and a free-press safeguard.
Key Points
- 1Federal spending and contribution limits: In a calendar year, no person may spend or contribute more than $100 to influence any federal election, and no one may spend or contribute more than an aggregate total of $1,000 for elections to the House, Senate, or Presidency (with Congress empowered to adjust those amounts, including downward or upward changes as money-value changes).
- 2Corporate spending ban in federal elections: No corporation or other entity created by law may contribute or spend any amount to influence federal elections for Representatives, Senators, President, or Vice President. Political parties or candidate campaigns may spend amounts as prescribed by law.
- 3Public financing and implementing legislation: Not later than 60 days after ratification, Congress must enact legislation to (a) limit campaign spending by candidates, campaigns, and parties; (b) provide public funding for all qualifying federal candidates in any ballot; the public funding must equal at least 80% of the amount that may be spent; (c) specify how presidential campaigns’ public funds are apportioned by states; (d) require unspent campaign funds to be turned over to the Treasury; and (e) establish penalties for violations.
- 4Enforcement and penalties: The amendment calls for civil and criminal penalties to enforce the spending limits and prohibitions, and authorizes suits by citizens to enforce the provisions of the article.
- 5Compensation-based incentive: One year after ratification, Senators and Representatives shall not receive compensation from the U.S. during any period in which the required public-financing legislation has not been in effect.
- 6State role: States would have the power to implement and enforce reasonable regulations on the raising and spending of money in state and local elections, including limits and prohibitions aligned with the article.
- 7Freedom of the press safeguard: The article explicitly states it should not be construed to abridge the freedom of the press.