Below is a summary of the Fair Elections Now Act. To read the text of SB 1285, click here.

FAIR ELECTIONS ARE NEEDED

The Fair Elections Now Act would restore public confidence in the Congressional election process by allowing qualified candidates to receive campaign financing from the Senate Fair Elections Fund instead of from lobbyists and other special interests. In return, participating candidates would voluntarily agree to limit their campaign spending to the amount allocated to them. This voluntary alternative would free participating candidates from the deeply flawed campaign fundraising system that currently overwhelms the entire election process. It would spare candidates from the incessant, time-consuming money chase that has tainted public perceptions of elected officials and fostered abuses that undermine our democracy. Candidates could instead devote their time and to effectively representing their constituents and to solving our nation's problems.

HOW FAIR ELECTIONS WOULD WORK

The Fair Elections Now Act would create a voluntary system that gives Senate candidates the option to stop dialing for dollars and attending fundraisers, without unilaterally disarming against a well-financed opponent. For those who participate, fundraising would be limited to raising "seed money" in amounts of no more than $100 per person to pay for campaign start-up costs. In addition, participating candidates would be required to demonstrate sufficient public support to merit Fair Elections funding by raising qualifying contributions of $5 each from a minimum number of state residents (based on the population of the state). Having demonstrated their viability, they would be eligible to receive Fair Elections funds.

This legislation establishes a formula for determining the baseline level of public funding provided to qualifying candidates for the primary and general election cycles. The amount would vary based on the population of the state, with the allocation for the primary equaling two-thirds of the allocation for the general election. Participating candidates would receive higher funding if a non-participating opponent raised funds in excess of the allocation provided by the Fair Elections system or if a participating candidate was targeted by independent expenditures. The allocations would be adjusted for the cost differences in the various media markets covering each state. Participants would receive vouchers for purchasing broadcast airtime and would receive a 20% discount below the lowest unit cost on all advertising purchased near the end of the primary and general campaigns.

THE THREE STAGES OF FAIR ELECTIONS

- STAGE ONE: SEED MONEY

Before declaring an intent to run as a "Fair Elections" candidate, a U.S. Senate candidate could solicit, accept, and spend seed money contributions of up to $100 from individual contributors (but not from PACs or other special interests) living in any state. Seed money expenditures would be limited to a cap equal to $75,000 + ($7,500 x (# of Congressional districts minus 1)). Senate candidates could spend seed money for any election campaign-related expense, and any excess spending in Stage One would be deducted from the candidate's Fair Elections allocation.

- STAGE TWO: QUALIFYING CONTRIBUTIONS

To demonstrate viability as a publicly financed candidate, a major party candidate would be required to gather a specified minimum number of qualifying contributions of exactly $5 each. The minimum number of qualifying contributions required for any particular state would be equal to 2,000 + (500 x (# of Congressional districts minus 1)). Qualifying contributions must be collected from residents in the candidate's home state, and these contributions must be turned over to the Senate Fair Elections Fund to help finance the Fair Elections system. To protect the Fair Elections Fund from fly-by-night candidates lured by visions of free funding, independent and minor party candidates would have to raise 150% of the number of qualifying contributions that a major party candidate would be required to raise in the same election.

- STAGE THREE: ALLOCATION OF FUNDS TO QUALIFIED CANDIDATES

Qualified candidates would receive general election funding in the amount of $750,000 + ($150,000 x (# of Congressional districts minus 1)). The funds available for the primary would be equal to 67% of the general election allocation. Participants facing privately funded opponents or heavy independent expenditures would be eligible for increased dollar-for-dollar "fair fight funds" up to 200% above the base general election allocation for which they are entitled.