To amend the Federal Election Campaign Act of 1971 to reduce the amount that a nonparty multicandidate political committee may contribute to a candidate in a congressional election, and for other purposes.

Amends the Federal Election Campaign Act of 1971 to reduce the contribution that a multicandidate political committee may make to a congressional candidate.

Prohibits: (1) a congressional candidate from accepting contributions from out-of-State persons that, in total, equal or exceed contributions from in-State residents; (2) cash contributions in Federal elections; (3) independent expenditures within seven days before a congressional election; (4) contributions between multicandidate political committees; and (5) bundling of funds.

Requires: (1) a multicandidate political committee affiliated with another organization to include such organization's entire name in its own name; and (2) a lobbyist who makes a contribution to disclose his or her lobbyist status.

Sets forth reporting requirements for: (1) contributing lobbyists; and (2) out-of-State contributions in House of Representatives elections.

Bans soft money in Federal elections.