H.R.133 - To reduce Federal spending and the deficit by terminating taxpayer financing of Presidential election campaigns.115th Congress (2017-2018)
|Sponsor:||Rep. Cole, Tom [R-OK-4] (Introduced 01/03/2017)|
|Committees:||House - Ways and Means; House Administration|
|Latest Action:||House - 02/07/2017 Ordered to be Reported by the Yeas and Nays: 5 - 3. (All Actions)|
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Summary: H.R.133 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (01/03/2017)
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, (2) the Presidential Election Campaign Fund, and (3) the Presidential Primary Matching Payment Account.
The Department of the Treasury must transfer: (1) specified funds remaining in the Presidential Election Campaign Fund to the 10-Year Pediatric Research Initiative Fund, and (2) the remainder of the funds to the general fund of the Treasury for deficit reduction.