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H. Rept. 114-362 1 (2015-12-03)

handle is hein.congrecreports/crptxsyh0001 and id is 1 raw text is: AUTHENTICATEO U.S. GOVERNMENT INFORMATION Gp 114TH CONGRESS 1 1 REPT. 114-362 1st Session HOUSE OF REPRESENTATIVES Part 1 TERMINATION OF TAXPAYER FINANCING OF PRESIDENTIAL ELECTION CAMPAIGNS DECEMBER 3, 2015.-Ordered to be printed Mrs. MILLER of Michigan, from the Committee on House Administration, submitted the following REPORT [To accompany H.R. 412] [Including cost estimate of the Congressional Budget Office] The Committee on House Administration, to whom was referred the bill (H.R. 412) to reduce Federal spending and the deficit by terminating taxpayer financing of presidential election campaigns, having considered the same, report favorably thereon without amendment and recommend that the bill do pass. PURPOSE AND SUMMARY H.R. 412 eliminates the Presidential Election Campaign Fund (PECF). The PECF is an inefficient and wasteful use of taxpayer dollars at a time when the national debt exceeds $18 trillion. Eliminating the PECF will have little impact on Presidential cam- paigns, as credible major party politicians have ceased using it. The PECF is an idea whose time has passed. H.R. 412 would elimi- nate the PECF and transfer $88,202,400 to the 10-Year Pediatric Research Initiative while transferring the remainder to the general fund of the Treasury, to be used only for reducing the deficit. BACKGROUND AND NEED FOR THE LEGISLATION In 1976, the Presidential Election Campaign Fund (PECF) was first used in a Presidential Election Campaign. Continuing from 1976 to 2008, every major party's nominee for President partici- pated in some form in the PECF. Starting in 2008, Barack Obama was the first major party Presidential nominee to decline general election funding. In 2012, neither major party's nominee accepted PECF funding for the general election. 59-006

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