Proposing an amendment to the Constitution of the United States to set limits on Federal campaign contributions and spending, prohibit corporate spending in the political process, require Congress to develop a system of public campaign financing for all Federal candidates who qualify for the ballot, and allow the States to set reasonable limits on campaign contributions and spending in State and local elections, and for other purposes.

This proposed constitutional amendment would establish strict limits on federal campaign contributions and spending, prohibiting corporations from influencing federal elections. It sets annual caps of $100 per election and $1,000 total for individuals, while requiring Congress to create a public financing system covering at least 80% of campaign costs for qualifying federal candidates. The amendment also grants states authority to set reasonable limits on campaign spending in local and state elections. As a constitutional proposal (not law), it would require ratification by 38 states to take effect.