To amend the Federal Election Campaign Act of 1971 to increase the limitation applicable to individual resident contributions in congressional elections and to reduce limitation on contributions by multicandate political committees to candidates.

Amends the Federal Election Campaign Act of 1971 to authorize an individual who is a resident of the State in which an election is held to make contributions to a candidate and the candidate's authorized committees which, in the aggregate, do not exceed $2,500.

Reduces from $5,000 to $2,500 the aggregate amount a multicandidate political committee may contribute to any candidate and the candidate's authorized committees with respect to any election for Federal office.