H.R.359 - To reduce Federal spending and the deficit by terminating taxpayer financing of presidential election campaigns and party conventions.

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  • Official: To reduce Federal spending and the deficit by terminating taxpayer financing of presidential election campaigns and party conventions. as introduced.

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Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
01/20/11
 
01/26/11
 
 
 
 
 

Sponsor

Representative

Tom Cole

R-OK

View Co-Sponsors (20)
 

Latest Vote

Result: Passed - January 26, 2011

Roll call number 25 in the House

Question: On Passage: H R 359 To reduce Federal spending and the deficit by terminating taxpayer financing of presidential election campaigns and party conventions

 

OpenCongress Summary

Eliminates the public matching funds program for presidential elections that was established in the late 70s as a response to Watergate. Under this bill, presidential candidates would no longer be able to opt for federal funds during their campaigns instead of fundraising from private individuals and corporations. It would also end public funding of party conventions and force the parties to pay for their conventions with money from donors. The bill is expected to eliminate $520 million in federal spending over the next ten years.
OpenCongress bill summaries are written by OpenCongress editors and are entirely independent of Congress and the federal government. For the summary provided by Congress itself, via the Congressional Research Service, see the "Official Summary" below.

Official Summary

Amends the Internal Revenue Code to terminate: (1) the taxpayer election to designate $3 of income tax liability for financing of presidential election campaigns; (2) the Presidential Election Campaign Fund; and (3) the Presidential Primary Matching Payment Account. Requires the Secretary o

Official Summary

Amends the Internal Revenue Code to terminate:
(1) the taxpayer election to designate $3 of income tax liability for financing of presidential election campaigns;
(2) the Presidential Election Campaign Fund; and
(3) the Presidential Primary Matching Payment Account. Requires the Secretary of the Treasury to transfer all amounts in the Presidential Election Campaign Fund after its termination to the general fund of the Treasury, to be used only for deficit reduction.

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Organizations Supporting H.R.359

  • None via MapLight at this time.

Organizations Opposing H.R.359

  • Public Citizen
  • Campaign Legal Center
  • Service Employees International Union


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