S.538

The ELECT Act of 2025 aims to reduce federal spending and the deficit by ending taxpayer financing of Presidential election campaigns.

The Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025 seeks to reduce federal spending and the deficit by terminating taxpayer financing of Presidential election campaigns. The bill amends the Internal Revenue Code to stop the designation of income tax payments for Presidential election campaigns starting after December 31, 2024. It also terminates the Presidential Election Campaign Fund and requires the transfer of remaining funds to the general fund of the Treasury for deficit reduction.