To amend the Federal Election Campaign Act of 1971, the Internal Revenue Code of 1986, and title 39, United States Code, to provide for an open, fair, and responsive electoral process, and for other purposes.

Amends the Federal Election Campaign Act of 1971 to limit out-of-State contributions to a candidate for the House of Representatives to 49 percent of the aggregate of contributions accepted from all sources. Reduces from $5,000 to $1,000 the permissible campaign contribution from a multicandidate political committee (PAC) to a candidate for Federal office. Prohibits any PAC from contributing to another PAC. Mandates that any multicandidate political committee that is affiliated with another organization include the entire organization name within its own name. Proscribes contributions made through an intermediary or conduit (bundling). Requires lobbyists to: (1) accompany their contributions with a written disclosure of their lobbyist status; and (2) report contributions to the Federal Election Commission by a specified deadline. Mandates that campaign contribution reports concerning elections for the House of Representatives segregate and itemize all out-of-State contributions. Bans "soft money" contributions. Modifies the recordkeeping requirements for political party committees. Prescribes guidelines for the allocation of contributions and expenditures for mixed activities by political party committees. Requires a labor organization to make certain annual written disclosures to all employees within its bargaining units concerning its political contributions and expenditures. Amends the Internal Revenue Code to deny tax-exempt status to: (1) organizations that participate or intervene in a political campaign for Federal office; and (2) certain politically active organizations. Amends the Federal Election Campaign Act of 1971 regarding limitations on contributions and expenditures to subject to its purview "political organizations maintained by a candidate". Limits the size of contributions permissible in any calendar year to political committees established and maintained by a State or local political party in connection with any activity that may influence an election for Federal office. Increases from $25,000 to $50,000 the aggregate permissible contributions made by an individual in any calendar year. Amends Postal Service law to lengthen from 60 days to 90 days the pre-election period during which Members of Congress may not send franked mass mailings.