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Presidential Funding Act of 2007
To amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections, and for other purposes.
Other Bill Titles (2 more) 12/5/2007--Introduced.
Presidential Funding Act of 2007 - Amends Internal Revenue Code provisions relating to public financing of presidential election campaigns to:
(1) quadruple (1:1 to 4:1) the matching rate for contributions to primary election candidates;
(2) lower from $250 to $200 the limit on individual campaign contributions;
(3) increase the presidential primary qualifying threshold from $5,000 to $25,000 in 20 states;
(4) require presidential candidates to participate in the primary payment system to be eligible for general election payments;
(5) move the starting date for payments to primary candidates from January 1 of a presidential election year to six months before the earliest state primary election;
(6) allow additional payments and increased expenditure limits for candidates who face opponents who do not participate in public financing and who raise more than 20% of applicable spending limits;
(7) designate the last Friday before the first Monday in September as the date for payments to eligible presidential candidates; and
(8) increase from $3 to $10 the presidential campaign tax return check-off amount.
Amends the Federal Election Campaign Act of 1971 to:
(1) increase expenditure limits for presidential primary campaigns and eliminate state primary spending limits;
(2) limit political party general election campaign expenditures to $25 million, with an additional $25 million allowance after the party's candidate is nominated;
(3) prohibit political parties from spending unregulated funds (soft money) on their national conventions; and
(4) require presidential campaign committees to disclose information about bundled campaign contributions (series of contributions exceeding specified threshold amounts).
... moreSee Full Bill Text
Committees
Amendments
This bill has no amendments.
Bill Status
| Introduced |  | Voted on by House | | Voted on by Senate | | Considered By President | | Bill Becomes Law |
| December 05, 2007 |
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Blog Coverage
December 04, 2007 Bill Action: Introduced: HR 4294: To amend the Internal Revenue ...
David Price [D-NC] introduced HR 4294: To amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections, and for other purposes. [This event matched these trackers: Active Legislation ]
December 04, 2007 HR 4294, To amend the Internal Revenue Code of 1986 to reform the ...
HR 4294 would amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections.... Vote on This Bill: For | Against.
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