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Presidential Campaign Finance Reform: New Rules and Fund

This act changes how presidential campaigns are funded, introducing a new matching system and creating a special fund. It aims to reduce the influence of large donations by increasing the importance of smaller contributions from citizens and funding campaigns from fines and penalties. These changes will take effect starting with the 2028 presidential election.
Key points
Increased public matching funds for small presidential campaign contributions (600% match for contributions up to $200).
Establishment of a Freedom From Influence Fund, financed by a portion of fines and penalties, as the primary source of campaign funding.
Repeal of expenditure limitations for candidates using public financing, giving them more flexibility in campaigning.
Introduction of a $1,000 limit on individual contributions to presidential campaigns to curb the influence of large donors.
Standardization of funding rules for all parties, regardless of size, to level the playing field in elections.
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Additional Information
Empower Act of 2021
Print number: HR 1312
Sponsor: Rep. Price, David E. [D-NC-4]
Process start date: 2021-02-24