Campaign Finance Reform Act of 1987

Campaign Finance Reform Act of 1987 - Amends the Federal Election Campaign Act of 1971 to decrease the amount one multicandidate political committee may contribute to a candidate and the candidate's political committee.

Limits to $100,000 ($125,000 where two or more candidates qualify for the ballot) the aggregate amount which all multicandidate political committees may contribute to a candidate for the House of Representatives in a general or special election, including any primary election, convention, or caucus relating to such general or special election. Limits to $25,000 the aggregate amount allowed for multicandidate political committee contributions in a runoff election for the office of Representative.

Establishes a formula for multicandidate political committee contributions to candidates for the Senate based upon State populations and limited to an aggregate total of $750,000.

Requires multicandidate political committees which make independent expenditures for advertisements connected with a candidate's campaign to disclose such information within the advertisement.