S 538
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025
Summary
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.
Bill status
- Status
- In committee
- Sponsor
- Sen. Joni Ernst [R-IA]
- Cosponsors
- 0
- Policy area
- Taxation
- Introduced
- 2025-02-12
- Latest action
- 2025-02-12: Read twice and referred to the Committee on Finance.
Committee referrals
Recent actions
- 2025-02-12: Read twice and referred to the Committee on Finance.
- 2025-02-12: Introduced in Senate