; (B) by striking , or makes contributions in excess of $1,000 and inserting or makes contributions in excess of $5,000 ; and (C) by striking or makes expenditures aggregating in excess of $1,000 during a calendar year ; and (3) by adding at the end the following new flush sentence: In any calendar year after 2020, section 315(c)(1)(B) shall apply to each amount described in subparagraphs (A) and (C) of this paragraph in the same manner as such section applies to the limitations established under subsections (a)(1)(A), (a)(1)(B), (a)(3), and (h) of such section, except that for purposes of applying such section to the amounts described in subparagraphs (A) and (C) of this paragraph, the base period shall be 2020. . (b) Reporting thresholds (1) Modification of independent expenditure reporting threshold Section 304(c)(1) of the Federal Election Campaign Act of 1971 ( 52 U.S.C. 30104(c)(1) ) is amended by striking $250 in paragraph (1) and inserting $1,000 . (2) Inflation adjustment Section 304 of such Act ( 52 U.S.C. 30104 ) is amended by adding at the end the following new subsection: (j) Inflation adjustments (1) In general In any odd-numbered calendar year after 2020— (A) each of the dollar amounts described in paragraph (2) shall be increased by the percent difference determined under section 315(c)(1)(A) (applied as if the base period was calendar year 2020); (B) each amount so increased shall remain in effect for the 2-year period beginning on the first day following the date of the last general election in the year preceding the year in which the amount is increased and ending on the date of the next general election