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Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2020
2/9/2022, 1:42 AM
Congressional Summary of S 3225
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 S 3225
Bill S 3225 is currently in the status of Bill Introduced since January 21, 2020. Bill S 3225 was introduced during Congress 116 and was introduced to the Senate on January 21, 2020. Bill S 3225's most recent activity was Read twice and referred to the Committee on Finance. as of January 21, 2020
Bipartisan Support of Bill S 3225
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 S 3225
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 S 3225
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2020
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2020
A bill to reduce Federal spending and the deficit by terminating taxpayer financing of Presidential election campaigns.
Comments
Sponsors and Cosponsors of S 3225
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