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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on May 14, 2015.
Constitutional Amendment
Denies as protected speech any financial expenditures, or in kind equivalents, with respect to a candidate for federal office, without regard to whether or not a communication expressly advocates the election or defeat of a specified candidate in the election.
Gives Congress the power to enact a mandatory public financing system to provide funds to qualified candidates in federal elections, which shall be the sole source of funds raised or spent with respect to federal elections.
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