Fair Elections Now Act

The Fair Elections Now Act creates a voluntary public financing program for House of Representatives candidates who agree to adhere to strict spending and fundraising limits. To qualify, candidates must raise a specific number of small-dollar contributions from residents of their state and agree to participate in public debates, while also prohibiting them from accepting large donations from private interests. In exchange for these restrictions, eligible candidates receive direct cash allocations from a new Fair Elections Fund and matching payments for small contributions made by their constituents. The bill also establishes an independent oversight board to adjust the program's financial thresholds over time and mandates that participating candidates return any unspent public funds to the government after an election.