A bill to amend section 315 of the Communications Act of 1934 to repeal the equal-opportunities requirement for candidates for President and Vice President, to provide for an additional exception from the equal opportunities requirement, and to provide for the right of response to certain broadcast statements for the President.

Exempts legally qualified candidates for the offices of President and Vice President of the United States from the equal-time requirements under the Communications Act.

Exempts a regularly scheduled program with respect to which the content, format, and participants are determined by a licensee or a radio or television network, and which is devoted to exploring contrasting views on current issues of public importance in a manner not designed to benefit any candidate for public office from such requirements.

Provides that whenever a broadcast license permits the President of the United States to use a broadcasting station for purposes of taking a partisan position on a controversial issue of public importance, the licensee shall afford equal opportunities in the use of such broadcasting station to a spokesman of the other political party.