Commission on Congressional Financing Act

Commission on Congressional Financing Act - Establishes the Bipartisan Commission on Congressional Campaign Financing to consider and study laws, regulations, and public commentary relating to the financing of congressional elections. Requires such study to give particular attention to the extent to which current campaign financing practices undermine public confidence in the Government.

Requires the Commission to consider the following changes in the present system of campaign financing: (1) increasing or decreasing allowable contributions; (2) initiating a plan of public financing; (3) making available free or subsidized broadcasting time; or (4) examining the role of independent expenditures. Directs the Commission to make reasonable efforts to achieve the broadest bipartisan consensus in arriving at its recommendations.

Requires the Commission, not later than one year after enactment of this Act, to submit to the Congress its final report. Terminates the Commission 90 days after submission of such report.

Requires the Director of the Congressional Research Service of the Library of Congress and the Chairman of the Federal Election Commission, not later than two months after enactment of this Act, to transmit briefing papers to the Bipartisan Commission which catalog and synthesize pertinent reports, analyses, and recommendations.

Authorizes appropriations.