Fair Elections Revenue Act of 2009

Fair Elections Revenue Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on payments made pursuant to a U.S. government contract to any person which is not a state or local government or a foreign nation and has contracts with the U.S. government in excess of $10 million. Sets the rate of such tax at 0.50% of amounts paid under any such contract and limits the aggregate annual amount of tax imposed each year to not more than $500,000.

Expresses the sense of the Senate that the tax revenues raised by this Act be used for the financing of a Fair Elections Fund and the public financing of Senate elections.