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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.

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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
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5956

Primary Policy Focus

Taxation

Potential 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

Mike Gallagher
Mike Gallagher
WisconsinRepublican

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