To amend the Federal Election Campaign Act of 1971 to make Federal elections more competitive, open, and honest by requiring additional statements to the Federal Election Commission from individuals who make independent expenditures, and for other purposes.

Amends the Federal Election Campaign Act of 1971 to: (1) require any individual required to file a statement of independent expenditures in an aggregate amount or value in excess of $250 during a calendar year to certify that such expenditures are from personal funds and to identify the financial institution from which any instrument is drawn to make such expenditures; (2) prohibit States from making any contribution or expenditure with respect to a Federal election or acting as an intermediary or conduit with respect to such contribution; (3) require disclosure of debt settlement and loan security agreements; (4) include as contributions any gift, subscription, loan, or deposit of money or anything of value made by any person to draft or encourage a clearly identified individual as a candidate for Federal office; and (5) treat such a contribution as a contribution to a candidate whether or not the individual actually becomes a candidate, for purposes of the limitations on contributions to any candidate for Federal office.

Requires Members of, or Members-elect to, the House of Representatives to account for all franked mail excluding franked mail with a simplified form of address for delivery within the Member's congressional district.