Constitutional Amendment - Gives Congress the power to prohibit, limit, and otherwise regulate the contribution of funds or donation of in-kind equivalents: (1) to candidates standing for election to a federal office in the United States, and (2) prohibit, limit, and otherwise regulate the expenditure of funds or donation of in-kind equivalents used to support or purchase media advertisements intended to influence the outcome of any such election.

Gives each of the several states the power to prohibit, limit, and otherwise regulate the contribution of funds or donation of in-kind equivalents: (1) to candidates standing for election to public office in the state, and (2) prohibit, limit, and otherwise regulate expenditure of funds or donation of in-kind equival;ents used to support or purchase media advertisements intended to influence the outcome of any such election or plebiscite in the state.

Prohibits any person who is not a U.S. citizen or is a foreign government, or acts as an agent of one, from: (1) contributing funds or donating in-kind equivalents to candidates standing for election to public office in the United States, or (2) otherwise expending funds or donating in-kind equivalents in a manner intended to influence the outcome of an election for public office or plebiscite in the United States.

States that the powers provided by this amendment are limited to the content neutral regulation of political contributions and political expenditures.