Abolish Super PACs Act

Summary

Creates a new federal category of “independent expenditure committees” (commonly known as super PACs) and subjects them to existing federal contribution limits. It defines an independent expenditure committee by a $5,000 annual threshold for independent spending or transfers to similar committees, and makes the contribution limits effective beginning the first full calendar year after enactment. The bill states findings about large, concentrated independent expenditures and declares the purpose of reducing the risk and appearance of corruption, limiting large uncapped contributions, and restoring public confidence in elections.

• Creates a statutory category called “independent expenditure committees” and defines it by a $5,000 annual threshold.
• Subjects independent expenditure committees to existing federal contribution limits that now apply to other political committees.
• Applies the new limits beginning the first full calendar year after enactment.
• Includes dedicated accounts of political committees used for independent expenditures within the definition.
• Aims to reduce large, concentrated donor influence and the appearance of corruption from uncapped super PAC funding.
• Imposes new registration/reporting and compliance expectations on groups that cross the $5,000 threshold.
• Does not appropriate new funds or create an authorization program; it changes contribution rules under FECA.
• Is likely to prompt litigation over constitutional free‑speech and campaign‑finance precedents.