Bill · S. 538· Senate(119-S-538)
Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025
- Introduced
- 2/12/2025
- Last activity
- 2/12/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Joni Ernst
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, known as the ``Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025'', aims to reduce Federal spending and the deficit. It works by terminating the taxpayer financing of Presidential election campaigns. The legislation amends the Internal Revenue Code to end the designation of income tax payments for this purpose after December 31, 2024. It also terminates the presidential election campaign fund and account. Any remaining amounts in the fund are to be transferred to the general fund of the Treasury. These transferred funds must be used specifically to reduce the deficit.
Yes· 3 of 5
Does this reduce what the federal government owes?+5
The bill directs the transfer of remaining presidential election campaign funds to the Treasury specifically to reduce the deficit.
Does this reduce what the federal government spends?+5
The bill terminates the taxpayer financing of presidential election campaigns, thereby reducing federal spending.
Does this make the government pay for what it commits to?+5
The bill aims to improve fiscal responsibility by redirecting election campaign funds toward debt reduction.
The opposite
Does this make what the government does easier for the public to see?-2
Eliminating public financing of elections may reduce the transparency associated with public fund tracking for campaigns.
Who it would affect, and how
Potential Positive Impacts for People
-
Reduction of the deficit: The bill directs the Secretary to transfer remaining amounts in the presidential election campaign fund to the general fund of the Treasury to be used for reducing the deficit (Section 2(b)(1)(B)).
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Reduction of Federal spending: The primary purpose of the bill is to reduce Federal spending and the deficit by ending taxpayer financing for Presidential election campaigns (Section 2).
Potential Negative Impacts for People
- Termination of presidential election campaign financing: The provisions of Chapter 95 and Chapter 96 of the Internal Revenue Code will no longer apply to Presidential elections or candidates after the enactment of this section (Section 2(b)(1)(A) and Section 2(b)(2)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Fiscal Responsibility+5Reduces Government Spending+5Reduces National Debt+5
- Demographic And Interest Groups
- Good For Low Income Households+2Good For Middle Class Households+2
- Governance And Ideology
- Improves Government Transparency-2
- 2/12/2025
- Read twice and referred to the Committee on Finance.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.