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VOL. 126 | NO. 18 | Thursday, January 27, 2011

House: End Subsidies for White House Hopefuls

AP

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WASHINGTON (AP) – The House has voted to abolish the system of partial federal funding for presidential campaigns.

The legislation passed 239-160. It would end the current system that allows people to check a box on their income tax return and dedicate $3 of their payments to presidential candidates.

Supporters said the bill would reduce federal spending by $617 million over a decade, and the bill marked an early example of House Republicans working to reduce deficits.

Democrats generally opposed the bill. It faces an uncertain future in the Senate. The White House has announced its opposition.

The system has been in effect for more than 30 years. It was put into place in reaction to the Watergate scandals of the Nixon years in the early 1970s.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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