To amend the Federal Election Campaign Act of 1971 to make federal elections more competitive, open, and honest by reducing the influence of nonparty multicandidate political committees, and for other purposes.

[AI summary unavailable — showing source text] Amends the Federal Election Campaign Act of 1971 to: (1) establish a separate limitation of $1,000 with respect to nonparty multicandidate political committee contributions to any candidate for Federal office (currently, all multicandidate political committee contributions to such candidates are subject to a $5,000 limitation); (2) prohibit separate segregated funds established by corporations or labor organizations for political purposes from acting as intermediaries or conduits with respect to contributions to such a candidate; (3) prohibit a political committee that is not an authorized committee of such a candidate and is not a political committee of a political party from transferring funds to any other such political committee; (4) prohibit such a candidate from establishing, maintaining, financing, or controlling a political committee, other than the candidate's principal campaign committee; and (5) prohibit a principal campaign committee of such a candidate from making any contribution to any other principal campaign committee (other than the principal campaign committee of the same individual as a candidate for another Federal office).…