A bill to amend Federal election laws to repeal the public financing of national political party conventions and Presidential elections and spending limits on Presidential election campaigns, to repeal the limits on coordinated expenditures by political parties, and for other purposes.

Amends the Federal Election Campaign Act of 1971 (FECA) to repeal the limit on coordinated expenditures and replaces it with a requirement permitting national committees of political parties and State committees of political parties, including any subordinate committees of State committees, to make any amount of expenditures in connection with the general election campaigns of candidates. Prohibits treating such expenditures as contributions to or expenditures made by candidates.

Amends the Internal Revenue Code to repeal: (1) the provision permitting an individual to designate income tax payments to the Presidential Election Campaign Fund; (2) the Presidential Election Campaign Fund Act; and (3) the Presidential Primary Matching Payment Account Act.

Amends FECA to repeal the limits on expenditures made by presidential candidates. Prohibits: (1) persons from making contributions to presidential candidates or candidates' authorized committees that, in the aggregate, exceeds $10,000; and (2) considering such contributions as contributions for the purpose of applying the aggregate limit on contributions made by individuals.

Raises certain contribution limits.

Repeals the provision which considers individual contributions made in a year other than the year of the election to be made during the year of the election.