This bill eliminates taxpayer funding for presidential election campaigns, meaning candidates will need to rely on private donations instead. It aims to save money and reduce the federal deficit.
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025This 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.
