Minority Leader Mitch McConnell (R-KY) introduced legislation today to end “taxpayer funding of the Presidential Election Campaign Fund and returning any unused funds to the Treasury—instead of to a political campaign.”
“The legislation, S. 194, is a companion bill to H.R. 359, introduced earlier this year by Rep. Tom Cole (R-Okla.) and passed by the House of Representatives today. According to the Congressional Budget Office, ending taxpayer funding for the Presidential Election Campaign fund would reduce the deficit by $617 million over 10 years.
“Sen. McConnell noted that, `In what is perhaps the largest poll taken in the country every year, fewer and fewer Americans are checking the box on their tax forms to pay for presidential campaign commercials.’”
Bill text is linked here.