119th Congress · SENATE BILLBILL

S. 538 — Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025

“A bill to reduce Federal spending and the deficit by terminating taxpayer financing of Presidential election campaigns.”

Taxation

Introduced Feb 12, 2025

Last action Feb 12, 2025

Pipeline · Bill → Law

Step 1

Introduced

Feb 12, 2025

Step 2

Referred

Feb 12, 2025

Finance

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Feb 12, 2025

Introduced in Senate

Feb 12, 2025

Read twice and referred to the Committee on Finance.