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house Bill H.R. 412

To reduce Federal spending and the deficit by terminating taxpayer financing of presidential election campaigns.

Bill Details

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Official Title

To reduce Federal spending and the deficit by terminating taxpayer financing of presidential election campaigns.

Summary

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) This bill amends the Internal Revenue Code to terminate: (1) the taxpayer election to designate $3 of income tax liability for financing of presidential election campaigns for taxable years beginning after December 31, 2014, (2) the Presidential Election Campaign Fund, and (3) the Presidential Primary Matching Payment Account. Of the amounts in the Fund as of the date of enactment of this Act: (1) a specified amount shall be transferred to the 10-Year Pediatric Research Initiative Fund, and (2) the remainder shall be transferred to the general fund of the Treasury to be used only for reducing the budget deficit.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Administration
      Committee on Ways and Means
    IntroducedJanuary 20th, 2015
    We need to reform campaign finances & get the corporate $$$, especially the Dark Money, out of our elections. $3 is not a large amount. Cut the damned defense budget if you are really worried about spending! Our entire system of democracy has been compromised by the private buying of elections by wealthy donors. STOP IT NOW!!
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    How do taxpayer contributions through tax returns have any bearing on the federal deficit and spending?
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    Terminating public financing gives more power to big money
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    Solid idea, I hate taxes but I would have to say this I would be glad to pay. Spending on the deficit though I'm not so sure about how exactly this would be
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    If we are going to eliminate any funding it should be private. This would give each candidate the same budget.
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    Get Private $$&&& Out of our Elections!!!!!!!!! & CAP Public Funding
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    The most important factor in someone's ability to lead should be their capability and policies. Not who they know and how good they are at raising money. Congress spends more time cold calling donors than reading legislation. Don't roll this backwards.
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    I would much rather lower the salary of politicians.
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