Iowa Senator Joni Ernst has introduced the Eliminating Leftover Expenses for Campaigns from Taxpayers (ELECT) Act, aiming to abolish a presidential campaign fund she describes as "welfare for politicians." This fund, designed to support presidential candidates, hasn't seen a successful candidate utilize it since George W. Bush in 2004. Ernst argues that with a national debt exceeding $36 trillion, eliminating this fund is a sensible step towards fiscal responsibility.
While the fund hasn't contributed to a winning presidential campaign in decades, it has been accessed by unsuccessful candidates in recent cycles, including Mike Pence and Jill Stein in 2024. Pence reportedly received over $1 million, while Stein used $380,000. Historically, the fund also provided $84.1 million to the late Senator John McCain in 2008, reflecting the provision for major party nominees to receive $20 million plus cost-of-living adjustments.
Ernst's proposal to defund the account aligns with a broader effort to reform campaign finance. Jill Stein, while critical of the move to eliminate the fund, highlighted the fact that it's financed by voluntary $3 contributions from taxpayers via the IRS 1040 form. She argues that eliminating the fund restricts voter choice by removing the option to support publicly financed candidates who reject corporate contributions. Stein advocates for broader campaign finance reforms, including publicly funded elections, inclusive debates, ranked choice voting, and measures to address voter suppression.
Sen. Joni Ernst (Anna Moneymaker/Getty Images)
Federal Election Commission (FEC) regulations permit candidates to use public funds for campaign debt repayment. IRS Code 9006, which dates back to at least the 1970s, outlines the process for eligible candidates to receive funds following certification from the FEC. In 2014, a portion of the Presidential Election Campaign Fund previously designated for political conventions was reallocated to pediatric cancer research through the Gabriella Miller Kids First Research Act.
