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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 Jan 24, 2017.
This joint resolution proposes a constitutional amendment authorizing Congress and the states to set reasonable limits on the raising and spending of money by candidates and others to influence elections.
The amendment grants Congress and the states the power to implement and enforce this amendment by appropriate legislation. They are allowed to distinguish between natural persons and corporations or other artificial entities created by law, including by prohibiting such entities from spending money to influence elections.
This joint resolution declares that nothing in this amendment shall be construed to grant Congress or the states the power to abridge the freedom of the press.