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This bill would end the use of taxpayer money to help pay for presidential election campaigns. It would stop people from directing part of their federal income taxes to the presidential election campaign fund, shut down the main public financing program for presidential elections and party conventions, and end the separate account used for presidential candidates. Any money left in the fund would be moved to the U.S. Treasury and used to help reduce the federal deficit.
- Stops the income tax checkoff used to support presidential campaign financing for tax years after December 31, 2024.
- Ends the public financing rules for future presidential elections and presidential nominating conventions after the bill becomes law.
- Transfers any remaining money in the presidential campaign fund to the Treasury’s general fund, with the money reserved for deficit reduction.
- Ends the separate public financing account for presidential candidates for elections after the bill is enacted.
Official Summaries
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025
This bill terminates (1) the taxpayer election (on the federal income tax form) to designate $3 of income tax liability to be paid to the Presidential Election Campaign Fund (which would otherwise go into the general fund of the Treasury) for financing of presidential election campaigns, (2) the Presidential Election Campaign Fund, and (3) the Presidential Primary Matching Payment Account. The bill also requires funds remaining in the Presidential Election Campaign Fund to be transferred to the general fund of the Treasury for the sole purpose of reducing the deficit.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 538 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
1st Session
S. 538
To reduce Federal spending and the deficit by terminating taxpayer
financing of Presidential election campaigns.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 12, 2025
Ms. Ernst introduced the following bill; which was read twice and
referred to the Committee on Finance
_______________________________________________________________________
A BILL
To reduce Federal spending and the deficit by terminating taxpayer
financing of Presidential election campaigns.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Eliminating Leftover Expenses for
Campaigns from Taxpayers (ELECT) Act of 2025''.
SEC. 2. TERMINATION OF TAXPAYER FINANCING OF PRESIDENTIAL ELECTION
CAMPAIGNS.
(a) Termination of Designation of Income Tax Payments.--Section
6096 of the Internal Revenue Code of 1986 is amended by adding at the
end the following new subsection:
``(d) Termination.--This section shall not apply to taxable years
beginning after December 31, 2024.''.
(b) Termination of Fund and Account.--
(1) Termination of presidential election campaign fund.--
(A) In general.--Chapter 95 of subtitle H of such
Code is amended by adding at the end the following new
section:
``SEC. 9013. TERMINATION.
``The provisions of this chapter shall not apply with respect to
any Presidential election (or any Presidential nominating convention)
after the date of the enactment of this section, or to any candidate in
such an election.''.
(B) Transfer of remaining funds.--Section 9006 of
such Code is amended by adding at the end the following
new subsection:
``(d) Transfer of Funds Remaining After Termination.--The Secretary
shall transfer the amounts in the fund as of the date of the enactment
of this subsection to the general fund of the Treasury, to be used only
for reducing the deficit.''.
(2) Termination of account.--Chapter 96 of subtitle H of
such Code is amended by adding at the end the following new
section:
``SEC. 9043. TERMINATION.
``The provisions of this chapter shall not apply to any candidate
with respect to any Presidential election after the date of the
enactment of this section.''.
(c) Clerical Amendments.--
(1) The table of sections for chapter 95 of subtitle H of
such Code is amended by adding at the end the following new
item:
``Sec. 9013. Termination.''.
(2) The table of sections for chapter 96 of subtitle H of
such Code is amended by adding at the end the following new
item:
``Sec. 9043. Termination.''.
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