New proposal for constitutional amendment

I wonder if this will gain any traction?

Here is the language proposed in Baucus' amendment:

Section 1. Congress shall have the power to regulate the contribution of funds by corporations and labor organizations to a candidate for election to, or for nomination for election to, a Federal office, and the power to regulate the expenditure of funds by corporations and labor organizations made in support of, or opposition to, such candidates.

Section 2. A State shall have the power to regulate the contribution of funds by corporations and labor organizations to a candidate for election to, or for nomination for election to, public office in the State, and the power to regulate the expenditure of funds by corporations and labor organizations made in support of, or opposition to, such candidates.

Section 3. Nothing contained in this Amendment shall be construed to allow Congress or a State to make any law abridging the freedom of the press.

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