Bill > HR3311

This bill aims to eliminate taxpayer financing for Presidential election campaigns by making several key changes to the Internal Revenue Code. Specifically, it would terminate the option for taxpayers to designate $3 of their federal income tax payments to the Presidential Election Campaign Fund for taxable years beginning after December 31, 2024. The bill would effectively shut down both Chapter 95 and Chapter 96 of the tax code, which currently provide public funding for Presidential elections and nominating conventions. Any remaining funds in the Presidential Election Campaign Fund would be transferred to the general Treasury fund and used exclusively for deficit reduction. This means that after the 2024 election cycle, candidates would no longer be able to receive public campaign financing, and taxpayers would no longer have the option to contribute to this fund through their tax returns. The bill is part of an effort to reduce federal spending and is officially known as the Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/3311/all-info