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Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2020
2/8/2022, 11:15 PM
Congressional Summary of HR 5956
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2020
This bill terminates (1) the taxpayer election to designate $3 of income tax liability for financing of presidential election campaigns, (2) the Presidential Election Campaign Fund, and (3) the Presidential Primary Matching Payment Account. The Department of the Treasury must transfer funds remaining in the Presidential Election Campaign Fund to the treasury for the sole purpose of reducing the deficit.
Read the Full Bill
Current Status of Bill HR 5956
Bill HR 5956 is currently in the status of Bill Introduced since February 25, 2020. Bill HR 5956 was introduced during Congress 116 and was introduced to the House on February 25, 2020. Bill HR 5956's most recent activity was Referred to the Committee on Ways and Means, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of February 25, 2020
Bipartisan Support of Bill HR 5956
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5956
Primary Policy Focus
TaxationPotential Impact Areas
- Budget deficits and national debt
- Elections, voting, political campaign regulation
- Government trust funds
- Presidents and presidential powers, Vice Presidents
- Tax administration and collection, taxpayers
Alternate Title(s) of Bill HR 5956
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2020
To reduce Federal spending and the deficit by terminating taxpayer financing of Presidential election campaigns.
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2020
Comments
Sponsors and Cosponsors of HR 5956
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