OpenCongress - H.R.776 Presidential Funding Act of 2007

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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)

1/31/2007--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 contributions (series of contributions aggregating more than $10,000).

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
January 31, 2007

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Users tracking H.R.776 (2) are also tracking:

People	Bills	Issues
Rep. Paul Hodes [D, NH-2] [1] Rep. Carol Shea-Porter [D, NH-1] [1] Sen. Russell Feingold [D, WI] [1] Sen. Patrick Leahy [D, VT] [1]	S.436 Presidential Funding Act of 2007 [2] S.1285 Fair Elections Now Act [2] H.R.2598 Independent Expenditure Opt Out Act [1] H.R.1614 Clean Money, Clean Elections Act of 2007 [1] H.R.1433 District of Columbia House Voting Rights ... [1]	Elections [1] Election administration [1] Campaign funds [1]

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In the News

March 08, 2007 Reform Groups Call on Presidential Candidates to Make Commitment ...

... agree to co-sponsor the legislation to fix the presidential public financing system, if they are in the Senate (S. 436) or the House (HR 776), or, ...