0
0
0
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2023
12/15/2023, 4:06 PM
Summary of Bill S 500
The Bill 118 s 500, also known as the Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2023, aims to address the issue of unused campaign funds being retained by political candidates after their campaigns have ended. The bill seeks to prevent candidates from using these leftover funds for personal use or other non-campaign related expenses.
Under the ELECT Act, candidates would be required to return any unused campaign funds to the federal government within 60 days of the end of their campaign. These funds would then be deposited into the general fund of the Treasury and used for deficit reduction or other government purposes.
The bill also includes provisions for penalties for candidates who fail to comply with the requirements of the ELECT Act. Candidates who do not return their unused campaign funds within the specified timeframe could face fines or other disciplinary actions. Overall, the ELECT Act is aimed at promoting transparency and accountability in campaign finance by ensuring that taxpayer funds are not used for personal gain by political candidates. It seeks to prevent the misuse of campaign funds and promote ethical behavior among elected officials.
Under the ELECT Act, candidates would be required to return any unused campaign funds to the federal government within 60 days of the end of their campaign. These funds would then be deposited into the general fund of the Treasury and used for deficit reduction or other government purposes.
The bill also includes provisions for penalties for candidates who fail to comply with the requirements of the ELECT Act. Candidates who do not return their unused campaign funds within the specified timeframe could face fines or other disciplinary actions. Overall, the ELECT Act is aimed at promoting transparency and accountability in campaign finance by ensuring that taxpayer funds are not used for personal gain by political candidates. It seeks to prevent the misuse of campaign funds and promote ethical behavior among elected officials.
Congressional Summary of S 500
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2023
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 S 500
Bill S 500 is currently in the status of Bill Introduced since February 16, 2023. Bill S 500 was introduced during Congress 118 and was introduced to the Senate on February 16, 2023. Bill S 500's most recent activity was Read twice and referred to the Committee on Finance. as of February 16, 2023
Bipartisan Support of Bill S 500
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 500
Primary Policy Focus
TaxationAlternate Title(s) of Bill S 500
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2023
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2023
A bill to reduce Federal spending and the deficit by terminating taxpayer financing of Presidential election campaigns.
Comments
Sponsors and Cosponsors of S 500
Latest Bills
A joint resolution to direct the removal of United States Armed Forces from hostilities within or against the Islamic Republic of Iran that have not been authorized by Congress.
Bill SJRES 181April 21, 2026
A joint resolution to direct the removal of United States Armed Forces from hostilities within or against the Islamic Republic of Iran that have not been authorized by Congress.
Bill SJRES 171April 21, 2026
A bill to amend title X of the Public Health Service Act to prohibit family planning grants from being awarded to any entity that performs abortions, and for other purposes.
Bill S 4329April 21, 2026
A bill to extend section 702 of the Foreign Intelligence Surveillance Act of 1978 for 3 years.
Bill S 4344April 21, 2026
A bill to repeal the 90/10 rule as it pertains to proprietary schools under title IV of the Higher Education Act of 1965.
Bill S 4348April 21, 2026
A bill to amend title 11, United States Code, to make the filing of a petition for relief under chapter 11 that is objectively futile or in subjective bad faith a cause for dismissal of the case, and for other purposes.
Bill S 4346April 21, 2026
A resolution commemorating the 10th anniversary of the Columbine Day of Service and honoring the memories of the victims, survivors, and their families.
Bill SRES 680April 21, 2026
A bill to ensure responsible age assurance practices within the mobile ecosystem, particularly concerning the protection of minors, and for other purposes.
Bill S 4349April 21, 2026
A resolution expressing the sense of the Senate by condemning the handling of the 2019 Ukraine Whistleblower Complaint, calling for the Department of Justice to initiate an investigation and prosecution of the matter, and declaring the impeachment of President Donald J. Trump by the House of Representatives lacks legitimacy.
Bill SRES 682April 21, 2026
A bill to prioritize funding for an expanded and sustained national investment in agricultural research.
Bill S 4347April 21, 2026
Strengthen the Pediatric Research Initiative Act
Bill HR 546December 15, 2023