H.R. 95, a bill to reduce federal spending and the deficit by terminating taxpayer financing of Presidential election campaigns and party conventions

Cost Estimate
June 21, 2013

As ordered reported by the Committee on House Administration on June 4, 2013

H.R. 95 would amend federal law to end taxpayers’ option to designate a portion of their federal income tax to the Presidential Election Campaign Fund (PECF); the bill would end authority to spend such funds on Presidential campaigns and transfer all balances in that fund to the general fund of the Treasury. CBO estimates that enacting H.R. 95 would reduce direct spending by $130 million over the 2014-2023 period. In addition, the legislation would affect federal penalties related to campaign financing (some of which are recorded in the budget as revenues and are available to be spent without further appropriation); CBO estimates, however, that any such effects would not be significant. Because the bill would affect direct spending and revenues, pay-as-you-go procedures apply. The staff of the Joint Committee on Taxation (JCT) estimates that enacting the legislation would have no impact on federal income tax revenues.

JCT has determined that H.R. 95 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.