To amend chapters 95 and 96 of the Internal Revenue Code of 1986 to reform the system of public financing for Presidential election campaigns, and for other purposes.
About This Bill
Committee
Latest Action · February 29, 2024
Read twice and referred to the Committee on Finance.
Empower Act of 2024
This bill modifies the system for the public financing of presidential primary and general elections.
The bill (1) increases the amount of matching funds for participating candidates by matching the first $200 of contributions by individuals to a candidate at a 6:1 ratio; (2) eliminates spending limits on participating candidates; (3) allows the national committee of a political party to make expenditures of up to $100 million in coordination with participating candidates; (4) requires all payments made to candidates, beginning with the 2028 presidential election, to be made from the Freedom From Influence Fund established by this bill; and (5) prohibits joint fundraising committees for any authorized committee of a candidate.
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