Common Sense Campaign Reform Act

[AI summary unavailable — showing source text] Common Sense Campaign Reform Act - Amends the Internal Revenue Code to allow a tax credit of up to $100 ($200 for a joint return) for qualified congressional campaign contributions. Amends the Federal Election Campaign Act of 1971 to reduce the ceiling (from $5,000 to $2,500) on multicandidate political committee (PAC) contributions to candidates for Federal office. Increases the ceiling (from $1,000 to $2,000) on contributions to such candidates by persons other than PACs. Prohibits a candidate for Federal office from establishing, maintaining, financing, or controlling a political committee (leadership committee) other than the principal campaign committee. Prohibits contributions between PACs. Requires the authorized committee of a candidate to include in the report of contributions to such committee certain identifying information of contributors of more than $25. Requires a separate segregated fund established by a national bank, corporation, or labor organization that is a PAC to include in its name the name of the establishing entity. Requires the candidate to sign any required reports.…