Presidential Campaign Finance Reform: Empowering Small Donors and New Funding Source
This Act fundamentally reforms the public financing system for Presidential campaigns, introducing a new matching payment structure (600% match for small contributions up to $200) and eliminating expenditure limits for publicly funded candidates. A key change is the establishment of the Freedom From Influence Fund, financed by special assessments (4.75%) on fines and penalties imposed on corporations and their officers, aiming to reduce candidates' reliance on large donors. These changes, effective starting with the 2028 election, are designed to amplify the impact of small donations and increase transparency.
Key points
Increased Matching Payments: Every individual contribution up to $200 to a Presidential campaign will be matched at 600% of its value, significantly boosting the power of small donors in political financing.
Creation of the Freedom From Influence Fund: A new fund for public campaign payments will be financed by a 4.75% assessment on fines and penalties levied against corporations and their officers for criminal and civil violations, moving away from reliance on voluntary tax check-offs.
Repeal of Expenditure Limitations: Candidates who accept public financing will no longer be subject to spending limits in both primary and general elections, granting them greater campaign flexibility.
Contribution Limits Reduced: The maximum acceptable contribution from any person for candidates accepting public funds is lowered to $1,000 for both primary and general elections.
Expired
Citizen Poll