Abolish Super PACs Act

Summary

Adds a new category of political committee called an "independent expenditure committee" (commonly understood as a super PAC equivalent) to federal contribution limits and subjects those committees to contribution caps. A committee that makes $5,000 or more in independent expenditures or gives $5,000+ to other such committees in a calendar year, or a separate account set up for that purpose, becomes subject to the same contribution limits that apply to other political committees. The rule applies beginning the first calendar year that starts after the law is enacted.

• Creates a statutory category called "independent expenditure committee" for entities that spend or give $5,000+ on independent expenditures in a year.
• Subjects those independent-expenditure committees to existing federal contribution limits by amending FECA.
• Applies to both direct independent expenditures and contributions between independent-expenditure committees, and to separate accounts created for that purpose.
• Takes effect for the first full calendar year beginning after enactment.
• Aims to reduce large uncapped donations to outside groups and lower risks or appearances of corruption and foreign-influence vulnerability.
• Does not create new spending programs or appropriate funds; it changes regulatory coverage under existing campaign-finance law.
• Could change fundraising strategies for PACs, major donors, outside groups, and campaigns that rely on independent expenditures.
• May prompt legal challenges on constitutional grounds (e.g., First Amendment issues), though the bill asserts such limits are lawful.