Policy Statement:
We believe that the current landscape of political campaign financing discourages the average citizen from running for office. With presidential campaigns often costing upwards of $1 billion, access to political power is increasingly restricted to the wealthiest Americans. This policy aims to set reasonable limits on campaign spending, creating an equal playing field for all candidates, regardless of personal wealth.
Key Provisions:
- Campaign Spending Limits:
Implement a maximum spending cap for different levels of government positions, adjusted based on the scope and reach of the office:
• $200 million for presidential candidates
• $50 million for senatorial candidates
• $10 million for congressional candidates
Spending caps aim to prevent only wealthy individuals from dominating the political arena.
- Candidate Qualification for Public Financing:
Candidates can qualify for public funding by meeting specific, accessible criteria—such as reaching a threshold of small-dollar donations or a minimum percentage in opinion polls—ensuring that funding goes to serious contenders from diverse backgrounds.
- Limits on Self-Funding:
Place a cap on how much personal wealth candidates can contribute to their own campaigns, ensuring that those with vast personal resources cannot overwhelm opponents through self-financing.
- Public Campaign Financing:
Introduce a public financing option that provides candidates who meet qualifying criteria with funding for their campaigns. This allows for broader representation and limits the influence of corporate or wealthy donors on candidate priorities.
- Regional Campaign Cost Adjustments:
Adjust spending limits based on regional factors like the cost of living and media expenses, ensuring fair access for candidates in both high-cost and rural areas.
- Restrictions on Large Donors and PACs:
Prohibit donations from corporations, billionaires, and super PACs to reduce the influence of concentrated wealth in politics. Instead, encourage small, individual donations and match these through public financing.
- Election Debate and Media Access Provisions:
Mandate equal, subsidized access to media for debates, interviews, and ad space to ensure candidates with limited funding can still gain visibility and communicate their policies to voters.
- Transparency, Accountability, and Post-Election Financial Reporting:
• Enforce complete transparency in campaign financing and spending, with real-time public access to donor information and spending practices.
• Require candidates to publish detailed post-election financial reports on campaign spending, building public trust and reinforcing accountability.
• Non-compliance or excessive spending would result in financial penalties or disqualification to maintain fair competition.
- Voter Education and Civic Engagement Support:
Fund initiatives that educate voters on each candidate’s policies and campaign priorities. By supporting voter education, campaigns can focus more on policy discussions than financial muscle.
Rationale:
A democracy that limits access to public office based on wealth is no longer a government by and for the people. By enforcing spending limits and reducing the impact of private wealth, we create a more representative, accessible political landscape that invites leaders from all walks of life.
Expected Outcomes:
• Increased diversity among political candidates
• Greater voter trust in the political process
• Reduced influence of special interests on political decisions
• A healthier democracy where citizens truly have the power to lead