Friday, January 28, 2011

House Votes to End Taxpayer Funding of U.S. Presidential Elections

 You may notice something missing when you go to do your taxes next year.  Or maybe you won't.  A single box will be removed from 2011, one which lawmakers say is unnecessary and a waste of money:

"House lawmakers on January 26 approved a measure to end the post-Watergate-era option of allowing taxpayers to check a box on their federal tax returns to designate $3 of their tax liability to finance presidential campaigns. Introduced by Rep. Tom Cole, R-Okla., the bill (HR 359) would amend the tax code to prohibit taxpayers from financing the Presidential Election Campaign Fund and the Presidential Primary Matching Payment Account. Cole said that only 7 percent of American's support the program, which he called a frivolous waste of federal spending used to pay for political party conventions and to prop up the candidacies of long-shot presidential hopefuls."

However you may feel about the program, expect a sleeker tax form to hit your desks early next year.

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