Clean Money, Clean Elections Act of 2007 - Amends the Federal Election Campaign Act of 1971 (FECA) with respect to: (1) eligibility and qualifying contribution requirements, seed money limits, and benefits of clean election financing of House election campaigns; (2) establishment of a House Clean Elections Fund; (3) eligibility for Fund allocations as well as such allocations; (4) a seed money contribution requirement; (5) contribution and expenditure requirements; (6) certification of whether or not a federal election candidate is a clean money candidate; (7) benefits for participating candidates; (8) payment of fair fight funds; (9) administration of the House Clean Elections System; (10) reporting requirements for nonparticipating candidates; (11) modification of electioneering communication reporting requirements; (12) limitation on coordinated expenditures by political party committees with participating candidates; and (13) treatment of coordinated expenditures as contributions.
Amends the Internal Revenue Code to provide a tax credit for voluntary donations to the House Clean Elections Fund.
Establishes the Clean Elections Review Commission.
Amends the Communications Act of 1934 to entitle clean money candidates to receive specified free broadcast time and reduced broadcast rates in certain circumstances.
Amends federal postal law to prohibit franked mass mailings by Members of Congress (except public meeting notices) during the 90 days before primary and general election periods, unless they are not candidates for re-election to any other federal office.
Amends FECA to: (1) empower the Federal Election Commission (FEC) to petition the U.S. Supreme Court for a proceeding on certiorari; and (2) reduce from 48 to 24 hours the deadline for electronic filing with the FEC of reports by each political committee of contributions received within 90 days before an election.