Proposing an amendment to the Constitution of the United States relating to contributions and expenditures with respect to Federal elections.

This joint resolution proposes a constitutional amendment specifying that protected speech does not include any financial expenditures, or in kind equivalents, with respect to a candidate for federal office, regardless of whether a communication expressly advocates the election or defeat of a specified candidate in the election.

The amendment 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.