The Abolish Super PACs Act would tighten how money can flow to political committees that make independent expenditures (often called super PACs). The bill would treat independent expenditure committees like other political committees for purposes of contribution limits, by adding them to the entities that are subject to FECA’s contribution caps. It defines what counts as an independent expenditure committee (IEC) and clarifies that contributions to IECs—and the independent expenditures those IECs make—would be limited, with the rules applying beginning in the first calendar year after enactment. The stated goal is to reduce the risk and appearance of corruption in elections, curb the leverage of large donors, and lessen opportunities for illicit influence or foreign interference through IECs.
Key Points
- 1Short title: The act is named the “Abolish Super PACs Act.”
- 2Findings and purpose: It argues that uncapped contributions to IECs (super PACs) create corruption risk and appearance problems, and that limiting these contributions will restore public trust and reduce influence by wealthy or foreign contributors.
- 3Limitation on contributions: The bill amends FECA to require that contributions to independent expenditure committees be subject to the same limits as contributions to other political committees.
- 4Definition of independent expenditure committee: Sets a threshold where a political committee is considered an IEC if it (a) makes independent expenditures totaling $5,000 or more in a calendar year, or (b) makes contributions to other IECs totaling $5,000 or more in a calendar year; it also includes separate accounts established to make independent expenditures or to contribute to other IECs.
- 5Effective date: The new limits apply to contributions and independent expenditures beginning with the first calendar year after enactment and for each subsequent year.