– Bans soft money, unlimited contributions that unions, corporations and individuals donate to national political parties. State and local parties could accept up to $10,000 in soft money a year per donor for activities affecting federal candidates.
– The limit for “hard money,” individual contributions for candidates per election, was set at $1,000 in 1974 but would climb to $2,000 for both House and Senate candidates. Currently an individual can contribute up to $50,000 over a two-year election cycle to parties and candidates. The measure would allow $95,000 over two years.
– Unions, corporations and some independent groups would be banned from using their treasury dollars to broadcast issue ads within 60 days of a general election or 30 days of a primary. The ads criticize candidates but do not endorse a rival.
– Prohibits foreigners from making contributions to federal, state or local elections.
– Bans solicitation of campaign contributions on federal property.
– Tells the Supreme Court it should judge each provision individually, and not view any legislation on an all-or-nothing basis.
– Requires television and radio stations to make public information relating to all political ads.
– Allows a candidate whose opponent spends more than a threshold amount of personal money to raise hard money contributions at triple the usual amount and receive more party donations.
