S. 3681 (111th): Presidential Funding Act of 2010

Introduced:
Jul 30, 2010 (111th Congress, 2009–2010)
Status:
Died (Referred to Committee)
Sponsor
Russell Feingold
Senator from Wisconsin
Party
Democrat
Text
Read Text »
Last Updated
Jul 30, 2010
Length
59 pages
Related Bills
S. 436 (110th) was a previous version of this bill.

Referred to Committee
Last Action: Jan 30, 2007

H.R. 6061 (Related)
Presidential Funding Act of 2010

Referred to Committee
Last Action: Jul 30, 2010

 
Status

This bill was introduced on July 30, 2010, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 30, 2010
Referred to Committee Jul 30, 2010
 
Full Title

A bill to amend the Internal Revenue Code of 1986 to reform the system of public financing for Presidential elections, and for other purposes.

Summary

No summaries available.

Cosponsors
none
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


7/30/2010--Introduced.
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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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