Issues and Legislation Current Bill Status

Legislative Bills

The Campaign Finance Legislation H3463 was introduced on November 17, 2011. The proposal is to reduce spending and the deficit by terminating taxpayer financing for presidential campaigns and party conventions, as well as, by terminating the Election Assistance Commission. The bill was passed by the House of Representatives on December 1, 2011 and is waiting for the Senate. (HR-3463-Repeals Taxpayer Financing of Presidential Election Campaigns-Key Vote) Once the bill is passed by the Senate, it would still need the President's approval to be enacted into law.

The Bill is to repeal taxpayer financing of presidential election campaigns and party conventions for all taxable years beginning after December 2010. It would repeal the Presidential Election Campaign fund, requiring all remaining money to be used only for reducing the deficit, and repeal the Election Assistance Commission, affected 60 days after enactment. It would also require the Federal Election Commission to assume duties of the Election Assistance Commission.

This Bill would amend Part 2 of subtitle A of title 11 of Help America Vote Act of 2002. It would read "there is an established Guideline Review Board." Under section 212, the board would review the voting system guidelines under part 3. Under section 213, the board would be composed of 82 members. The members would come two members from each state and two members from various government agencies. The term of service would be two years and may be reappointed up to three consecutive terms.

S 2038 prohibits insider trading by government officials. It would amend S1491, which would require disclosure of financial transactions by executive branch employees. S1472 would also be amended to prohibiting consideration of bills containing earmarks. The bill was introduced January 26, 2012 by the Senate. It was passed February 2, 2012 by the Senate and February 9, 2012 by the House of Representatives. It is now before the President waiting for approval to be enacted into law. (S2038-Prohibits Insider Trading by Government Officials-Key Vote)

This bill specifies employees and members of Congress, executive branch employees, and judicial officers are not exempt from insider trading law. It would prohibit them from using nonpublic information for private profit. It would include the President, Vice President, and employees of U.S. Postal Service and the Postal Regulatory Commission. It would also prohibit public officials from performing official duties for the purpose of knowingly benefitting financial interest for themselves, their immediate family, or any business, organization, or person they have business relationship with, and does not disclose the required financial information regarding the person or organization benefitting from the act.