The "Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025" proposes to terminate all taxpayer financing of Presidential election campaigns . This legislation would amend the Internal Revenue Code to prevent taxpayers from designating income tax payments for these campaigns for taxable years beginning after December 31, 2024. The bill further seeks to terminate the Presidential Election Campaign Fund and the Presidential Primary Matching Payment Account for all future Presidential elections and nominating conventions following its enactment. Significantly, any funds remaining in the Presidential Election Campaign Fund would be transferred to the general fund of the Treasury, with the explicit purpose of reducing the national deficit .