Campaign Finance Reform Act of 1982

Campaign Finance Reform Act of 1982 - Amends the Federal Election Campaign Act of 1971 to impose ceilings on the total contributions which campaigns for the House of Representatives and the Senate may accept from multicandidate political committees.

Sets the ceiling with respect to campaigns for the House at $75,000 for a general or special election (with an extra $25,000 in the case of a run-off).

Sets the ceiling with respect to campaigns for the Senate at: (1) the greater of $25,000, or the product of $12,500 times the number of State Representatives, in the case of a run-off election; or (2) the greater of $75,000, or the product of $37,500 times the number of State Representatives (not to exceed $500,000), for a general or special election (including conventions and primaries).

Amends the Internal Revenue Code to increase the tax credit for political contributions from $50 to $100 ($200 for joint returns). Allows two separate tax credits, up to such amounts, for contributions: (1) to individual candidates and political committees; and (2) to national, State, and local committees of a national political party.