Thomas E. Petri: “Today's elections are costing more and more each year. According to the Center for Responsive Politics, winning…”

“Today's elections are costing more and more each year. According to the Center for Responsive Politics, winning candidates spent an average of $1.5 million in the 2011-2012 election cycle. More than $4 billion was contributed to campaigns during the last cycle, with 63 percent of this total coming from donors who gave more than $200. Most would agree that the ideal way to finance political campaigns is through a broad base of donors. This is why I propose to bring back the Federal tax credit for small campaign contributions. Today, I have introduced the Citizen Involvement in Campaigns Act. Under this legislation, individuals who donate amounts up to $200 to a Federal campaign could receive a tax credit equal to that contribution. With more and more campaign operations moving to Web sites and online resources, campaigns could tilt the playing field away from special interests and large donors and empower small donors and average Americans. This bill is a step in the right direction of encouraging greater participation in our campaigns, and I urge my colleagues to cosponsor this legislation. ____________________”