The "Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act of 2025" seeks to terminate federal taxpayer financing for Presidential election campaigns and nominating conventions. This legislation amends the Internal Revenue Code to cease the designation of income tax payments for this purpose for taxable years beginning after December 31, 2024. Furthermore, the bill explicitly terminates the Presidential Election Campaign Fund and the Presidential Primary Matching Payment Account for all future elections. Any funds remaining in the Presidential Election Campaign Fund upon the bill's enactment will be transferred to the general fund of the Treasury, designated specifically for reducing the national deficit .