Campaign finance reform attracts intense political, academic, and media attention. The debate swirling around the McCain-Feingold legislation in 2001 is evidence of the power of the issue. Despite the intensity of the spotlight, commentators and politicians often overlook an important element of any proposed reform: diversity. This Note explores campaign finance reform from an under-explored angle: the impact proposed reforms would have on minority and female candidates. This Note explores the woefully inadequate diversity of representation in elective office and critiques numerous proposals for change from the perspective of a prospective minority or female candidate. This Note concludes that in order for the diversity of those holding elective office to better reflect the diversity of the nation as a whole, reformers must take the concerns of minority and female candidates into account and must institute publicly funded campaigns.