Ending Taxpayer Funding for Presidential Election Campaigns
This Act terminates the public financing of U.S. Presidential election campaigns using taxpayer money. Funds previously designated for this purpose will be transferred to the general Treasury fund to reduce the national deficit. This change applies to tax years beginning after December 31, 2022, directly impacting how federal public money is allocated.
Key points
Elimination of the income tax check-off option for funding Presidential campaigns for tax years starting after December 31, 2022.
The Presidential Election Campaign Fund is terminated, and all remaining funds will be transferred to the general Treasury to reduce the deficit.
The legislation aims to decrease federal spending and the deficit by ending public financing for Presidential elections and nominating conventions.
Status:
Expired
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