Abolish Super PACs Act

This legislation seeks to amend the Federal Election Campaign Act of 1971 by establishing reasonable limits on contributions to Super PACs , which it renames "independent expenditure committees." The bill's purpose is to curb the risk and appearance of corruption in federal elections, which it argues have escalated due to unlimited contributions to these entities since 2010. By capping donations, the legislation aims to restore public confidence in the electoral system and reduce the potential for undue influence. Specifically, the bill modifies existing law to apply contribution limits to any political committee that makes $5,000 or more in independent expenditures or contributes that amount to other independent expenditure committees annually. This definition also encompasses separate accounts within political committees dedicated to such activities. The changes are slated to take effect in the first calendar year following the bill's enactment.