Signed by President George Bush

Vote Smart's Synopsis:

Vote to pass a bill that would implement reforms in the ways that politicians can raise money and regulate how unions, state political parties, and national political parties can distribute money to individual politicians.

Highlights:

• Bans soft money contributions to national political parties.

• Limits contributions individuals can make to Senate candidates ($2,000 limit) and House candidates ($1,000 limit).

• Raises the limit on individual contributions to national party committees to $25,000 annually.

• Raises the aggregate individual limit on all contributions to federal candidates, political action committees (PACs), and parties to $37,500 annually.

• Raises the special limit on combined contributions to Senate candidates by national and senatorial party committees respectively to $35,000 during an election year.

• Prohibits the use of corporate and labor union funds to purchase issue ads that specify individual candidates from being run 60 days prior to a general election and 30 days before a primary election.

• Stipulates that soft money may comprise half of the total expenditures state and local parties use for voter registration and get-out-the-vote programs.

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that would implement reforms in the ways that politicians can raise money and regulate how unions, state political parties, and national political parties can distribute money to individual politicians.

Highlights:

• Bans soft money contributions to national political parties.

• Limits contributions individuals can make to Senate candidates ($2,000 limit) and House candidates ($1,000 limit).

• Raises the limit on individual contributions to national party committees to $25,000 annually.

• Raises the aggregate individual limit on all contributions to federal candidates, political action committees (PACs), and parties to $37,500 annually.

• Raises the special limit on combined contributions to Senate candidates by national and senatorial party committees respectively to $35,000 during an election year.

• Prohibits the use of corporate and labor union funds to purchase issue ads that specify individual candidates from being run 60 days prior to a general election and 30 days before a primary election.

• Stipulates that soft money may comprise half of the total expenditures state and local parties use for voter registration and get-out-the-vote programs.

Full Bill Text

Full Bill Text