Competitive Elections Act of 2011 - Amends the Federal Election Campaign Act of 1971 to prohibit an authorized committee of a candidate for election to the U.S. Senate or the House of Representatives from making any expenditure of funds in support of the candidate's election campaign that were not deposited in the committee's account during the election cycle for the office involved.
Makes an exception to this prohibition for candidates facing certain opponents who make expenditures from personal funds exceeding specified dollar amounts.