To amend the Federal Election Campaign Act of 1971 to reform the financing of elections for members of the House of Representatives, and for other purposes.

Amends the Federal Election Campaign Act of 1971 to limit contributions to House of Representatives elections from persons other than local individual residents.

Reduces maximum House contribution amounts from multicandidate political committees (PACs).

Sets forth limitations and reporting requirements for amounts paid for mixed political activities ("soft money").

Amends the Communications Act of 1934 to require a broadcast station to make broadcast time available to all House and Senate candidates in the last 30 (currently 45) days before a primary and the last 45 (currently 60) days before a general election, at the lowest unit charge of the station for the same amount of time (currently, the same class and amount of time) for the same period on the same date. Prohibits broadcasters from preempting advertisements sold to political candidates at the lowest unit rate, unless the preemption is beyond the broadcaster's control.