H.R. 9354: Fair Elections Now Act

The bill would create a voluntary public financing system for campaigns for the U.S. House of Representatives. Candidates who choose to participate and meet qualification requirements would receive money from a new public fund, along with matching payments for small donations. In exchange, participating candidates would have to follow rules that limit their use of private fundraising and campaign spending.

Public financing program

The bill establishes a system in which House candidates can opt in to receive public money for their campaigns. To qualify, candidates would need to raise a required amount of small donations from individual supporters. Once qualified, they could receive payments from the fund, including matching funds tied to small-donor contributions.

Participating candidates would be subject to restrictions intended to reduce reliance on large private donations. They would have to limit certain types of fundraising and spending, and they would be required to return any unspent public funds after the campaign.

Fair Elections Fund and oversight

The bill creates a Fair Elections Fund to pay for the public financing program. It also creates a Fair Elections Board to help administer and oversee the system. The Federal Election Commission (FEC) would be responsible for implementing rules related to the program and for enforcing penalties when required.

Rules for participating candidates

Candidates who take public money would have to follow additional campaign rules, including:

• Not participating in joint fundraising arrangements.
• Restricting how campaign funds can be used.
• Using electronic filing for required reports and disclosures.
• Meeting debate participation requirements.
• Returning any leftover public funds after the election.

Timing

The bill would take effect on January 1, 2027.

Relevant Companies

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