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Committee on AdministrationCommittee on Ways and MeansIntroducedJanuary 3rd, 2013
- house Committees
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To reduce Federal spending and the deficit by terminating taxpayer financing of presidential election campaigns and party conventions.
Amends the Internal Revenue Code to terminate: (1) the taxpayer election to designate $3 of income tax liability to the Presidential Election Campaign Fund for taxable years beginning after December 31, 2011, (2) the Presidential Election Campaign Fund, and (3) the Presidential Primary Matching Payment Account. Directs that any amounts remaining in the Presidential Election Campaign Fund after its termination be transferred to the general fund of the Treasury to be used only for reducing the deficit.