S. 3681 · 111th Congress
Presidential Funding Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
FeingoldSponsorNo cosponsors.
Presidential Funding Act of 2010 - Amends the Internal Revenue Code, with respect to public financing of presidential election campaigns, to: (1) quadruple (from 1:1 to 4:1) the matching rate for contributions to primary election candidates or their authorized committees for contributions not exceeding $200 (currently, $250); (2) eliminate primary and…
What it does: CRS summary · Introduced in Senate · Jul 30, 2010
Presidential Funding Act of 2010 - Amends the Internal Revenue Code, with respect to public financing of presidential election campaigns, to: (1) quadruple (from 1:1 to 4:1) the matching rate for contributions to primary election candidates or their authorized committees for contributions not exceeding $200 (currently, $250); (2) eliminate primary and general election spending limits on participating candidates; (3) increase the eligibility threshold for receiving matching payments from $5,000 to $25,000 in contributions from residents of each of at least 20 states; (4) limit the maximum campaign contribution by individuals to $1,000 for primaries (currently, $2,400); (5) allow an inflation adjustment for periods after 2012 for contribution limitations and matching payment amounts; (6) prohibit contributions raised by lobbyists or political action committees from qualifying for matching fund payments; (7) require candidates who accept public financing in primary elections to accept such financing in general elections; (8) change the starting date for payment of matching funds to primary candidates from January 1 of the election year to 6 months before the first presidential primary or caucus; (9) allow an equal payment to eligible candidates in a presidential election of $50 million with additional matching funds according to a specified formula; and (10) increase from $3 to $10 ($6 to $20 for joint returns) the tax checkoff for the Presidential Election Campaign Fund.
Amends the Federal Election Campaign Act of 1971 to: (1) increase to $50 million the limit on coordinated spending by a national party and its presidential candidate; (2) prohibit political parties from spending unregulated funds (soft money) on their national conventions; (3) prohibit an authorized committee of a candidate from establishing a joint fundraising committee with a political committee other than the candidate's authorized committee; and (4) require presidential campaign committees to disclose information about bundled campaign contributions (i.e., a series of contributions exceeding specified threshold amounts).
Amends the Reclamation Reform Act of 1982 to offset the cost of this Act by modifying irrigation subsidies for specified single farm operations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Presidential Funding Act of 2010
Latest action (Jul 30, 2010): Read twice and referred to the Committee on Finance.
Policy area: Government Operations and Politics · Origin: Senate · Introduced: Jul 30, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.