Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025

S 538, the ELECT Act of 2025, ends taxpayer funding for presidential election campaigns after 2024. It terminates the existing system where income tax payments financed campaigns by amending the tax code to stop this practice starting in 2025. Any remaining funds in the Presidential election campaign fund will be transferred to the general Treasury to reduce the federal deficit. This bill directly affects future presidential campaigns and the federal budget by removing taxpayer subsidies for campaign expenses.