Political Broadcasting Spending Reform Act

Political Broadcasting Spending Reform Act - Provides, under the Communications Act of 1934, that no license may make any charge for the use of a broadcasting station by any legally qualified candidate for the office of President of the United States on behalf of his candidacy or for use of such station by any other person on behalf of the candidacy of such candidate.

Directs each license of a broadcasting station to provide to each major presidential candidate and to each minor presidential candidate (as defined by this Act) broadcast time on such station without charge as follows: (1) each major presidential candidate shall be provided in the aggregate at least four hours of broadcast time; and (2) each minor presidential candidate shall be provided in the aggregate at least two hours of broadcast time.

States that a licensee of a broadcasting station may provide to each major presidential candidate and to each minor presidential candidate broadcast time in addition to the time provided under this Act, but if any such presidential candidate is offered such additional time, all of such candidates shall be offered broadcast time by such licensee.

Authorizes the Federal Communications Commission to exempt the licensee of a broadcast station from the requirements of this Act if it determines that the licensee would suffer unfair financial hardship if it had to meet such requirements.