Amends the Communications Act of 1934 to entitle clean money candidates to receive specified free broadcast time.
Amends: (1) FECA to outline political advertising provisions for specified communications; and (2) Federal postal law to limit franked mass mailings by Members of Congress.
Amends FECA with respect to soft money to prohibit: (1) a national committee of a political party (including a national congressional campaign committee) from soliciting or receiving contributions or making expenditures not subject to FECA; (2) a national State, district, or local committee from soliciting or donating funds to a tax-exempt organization; and (3) an incumbent or candidate for Federal office (or an agent) from soliciting or receiving either funds not subject to FECA, or funds for a non-Federal election in excess of certain limits or from prohibited sources (with exceptions). Requires a State, district, or local committee of a political party to make Federal election year expenditures (with exceptions) from funds subject to FECA.
Amends FECA to: (1) establish aggregate annual contribution limits for political committees established and maintained by a State committee of a political party, and increase aggregate annual individual contribution limits; (2) prescribe reporting requirements pertaining to political committees; (3) eliminate the exception for building funds relating to the definition of "contribution"; (4) revise requirements for the composition and terms of FEC Commissioners; and (5) mandate electronic filing of FEC reports.