Summary: S.3225 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.3225. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (01/21/2020)

Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2020

This bill terminates (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 funds remaining in the Presidential Election Campaign Fund to the treasury for the sole purpose of reducing the deficit.