Heinrich Sponsors Bill to Reform Financing of Congressional Elections

Press Release

Today, U.S. Representative Martin Heinrich sponsored bipartisan legislation to reform the way Congressional elections are financed. The Fair Elections Now Act would allow qualified Congressional candidates to receive grants and matching funds to run competitive campaigns instead of relying on contributions from lobbyists and other special interests.

"Without a fundamental reform of the way we finance campaigns, we cannot bring real change to Capitol Hill," said Rep. Heinrich. "Our bipartisan bill is a significant step in improving public confidence in the electoral process. I believe this legislation will allow lawmakers to be good stewards of the public trust as opposed to raising millions of dollars to run campaigns."

The Fair Elections Now Act would create a voluntary system that gives congressional candidates the option to stop raising huge sums of money, giving them more time to work on the people's business. Candidates who participate in the Fair Elections process would agree to limit their campaign spending to the amounts raised from small dollar donors plus matching contributions from the Fair Elections Fund.

This legislation was introduced in the U.S. House of Representatives by House Democratic Caucus Chairman John Larson (D-CT). A companion bill was also introduced in the U.S. Senate today by Assistant Senate Majority Leader Dick Durbin (D-IL) and Senator Arlen Spector (R-PA).

How the Fair Elections Bill Works:

* It's voluntary - no candidate for Congress is compelled to use this system.
* Candidates must raise a minimum level of small individual contributions in order to qualify for the program.
* Once they qualify, candidates will abide by various restrictions and disclosure requirements.
* Qualified candidates will receive an up-front grant for their primary campaigns, and if nominated, another grant for their general election campaign.
* Candidates will also receive a 4:1 match for contributions of $100 or less from an individual; no individual may give more than $100; that match will stop after a certain spending level is reached, but candidates may continue to raise donations of up to $100 per individual without a match.
* There is no overall spending limit. Candidates may continue to raise funds after they have reached the cap on their match.
* A new commission will administer the program, including the disbursal of funds and collection of reports.
* Coordinated expenditures with party organizations will be permitted up to an amount equal to a small percentage of the public grant.
* No contributions, fundraising, or bundling will be allowed from PACs.
* There will be special provisions for candidates in uncontested races (at significantly lower funding levels).
* Participating candidates could take only individual contributions of $100 or less for their leadership PACs.
* The Fair Elections fund will be fully financed and revenue neutral.

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