A bill to amend the Federal Election Campaign Act of 1971 to limit candidate expenditures of personal funds.

Summary

Amends the Federal Election Campaign Act of 1971 to require each candidate for Federal office to file a declaration with the Federal Election Commission on whether such candidate intends to expend, in the aggregate, $250,000 or more from personal funds, or the funds of the candidate's immediate family, or incur personal loans in excess of such amount, in connection with the candidate's campaign. Establishes formulas to increase the limitations on contributions for a candidate in an election in which another candidate: (1) intends to expend more than $250,000; (2) intends to incur personal loans in excess of $250,000; (3) does expend or incur loans in excess of such amount; or (4) fails to file the required declaration. Requires any candidate who has declared the intention not to exceed the personal spending limit and who subsequently does exceed such limit to file an amended declaration and to notify all other candidates for such office of such change. Prohibits a candidate who expends personal funds from repaying personal loans for an election campaign from contributions made after such election. Prohibits a candidate from expending personal funds or family funds or from incurring personal loans for a campaign at any time after 60 days before the date of the election.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 15 March 1989

  Open at official source

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