To amend the Federal Election Campaign Act of 1971 to provide for partial removal of limitations on contributions to candidates whose opponents exceed personal contribution limitations in an election.

Amends the Federal Election Campaign Act of 1971 to: (1) require a candidate for Federal office who makes contributions or expenditures in excess of $1,000 to notify the Federal Election Commission and the other candidates; and (2) permit in such case contributions to those candidates in excess of specified limitations.

Requires a person who makes an independent expenditure within 72 hours before an election to so notify each candidate.