What is the official ID of this bill?
The official print number for this legislation is S 428.
Presidential Campaign Finance Reform: New Rules and Funding
This act reforms presidential campaign financing by introducing a new support fund and modifying the matching funds system. It aims to increase transparency and financial independence for candidates, potentially influencing how campaigns are run and the presidential election.
Key points
Establishes a 'Freedom From Influence Fund', financed by a portion of fines and penalties, as the primary source of public funding for presidential campaigns starting in 2028.
Increases public matching payments for small individual contributions (up to 600% of contributions up to $200) in primary and general elections, with a $250 million cap per campaign.
Removes expenditure limits for candidates who accept public funding, giving them more flexibility in campaign spending.
Imposes a $1,000 limit on individual contributions to candidates receiving public funding, aiming to reduce the influence of large donors.
Increases the limit on coordinated party expenditures for presidential campaigns to $100 million, strengthening the role of political parties in elections.
Status:
Expired
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