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I
116TH CONGRESS
2D SESSION
H. R. 5956
To reduce Federal spending and the deficit by terminating taxpayer financing
of Presidential election campaigns.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 25, 2020
Mr. GALLAGHER introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on House
Administration, for a period to be subsequently determined by the Speak-
er, in each case for consideration of such provisions as fall within the ju-
risdiction of the committee concerned
A BILL
To reduce Federal spending and the deficit by terminating
taxpayer financing of Presidential election campaigns.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Eliminating Leftover
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Expenses for Campaigns from Taxpayers (ELECT) Act
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of 2020’’.
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•HR 5956 IH
SEC. 2. TERMINATION OF TAXPAYER FINANCING OF PRESI-
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DENTIAL ELECTION CAMPAIGNS.
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(a) TERMINATION OF DESIGNATION OF INCOME TAX
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PAYMENTS.—Section 6096 of the Internal Revenue Code
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of 1986 is amended by adding at the end the following
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new subsection:
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‘‘(d) TERMINATION.—This section shall not apply to
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taxable years beginning after December 31, 2019.’’.
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(b) TERMINATION OF FUND AND ACCOUNT.—
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(1) TERMINATION OF PRESIDENTIAL ELECTION
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CAMPAIGN FUND.—
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(A) IN GENERAL.—Chapter 95 of subtitle
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H of such Code is amended by adding at the
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end the following new section:
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‘‘SEC. 9013. TERMINATION.
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‘‘The provisions of this chapter shall not apply with
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respect to any Presidential election (or any Presidential
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nominating convention) after the date of the enactment
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of this section, or to any candidate in such an election.’’.
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(B) TRANSFER OF REMAINING FUNDS.—
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Section 9006 of such Code is amended by add-
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ing at the end the following new subsection:
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‘‘(d) TRANSFER OF FUNDS REMAINING AFTER TER-
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MINATION.—The Secretary shall transfer the amounts in
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the fund as of the date of the enactment of this subsection
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•HR 5956 IH
to the general fund of the Treasury, to be used only for
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reducing the deficit.’’.
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(2) TERMINATION OF ACCOUNT.—Chapter 96
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of subtitle H of such Code is amended by adding at
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the end the following new section:
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‘‘SEC. 9043. TERMINATION.
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‘‘The provisions of this chapter shall not apply to any
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candidate with respect to any Presidential election after
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the date of the enactment of this section.’’.
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(c) CLERICAL AMENDMENTS.—
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(1) The table of sections for chapter 95 of sub-
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title H of such Code is amended by adding at the
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end the following new item:
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‘‘Sec. 9013. Termination.’’.
(2) The table of sections for chapter 96 of sub-
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title H of such Code is amended by adding at the
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end the following new item:
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‘‘Sec. 9043. Termination.’’.
Æ
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