Wednesday in the House: Termination of taxpayer-funded campaigns

Only one amendment has been printed in the Record so far. That amendment, from Rep. Gary Peters (D-Mich.), would ensure that all money saved by ending taxpayer-funded campaigns is used only for the purpose of reducing the budget deficit.

The Congressional Budget Office said today that it expects H.R. 359 to save $617 million over 10 years.

Also today, the Obama administration said in a Statement of Administration Policy (SAP) that it "strongly opposes" H.R. 359. "Its effect would be to expand the power of corporations and special interests in the Nation’s elections; to force many candidates into an endless cycle of fundraising at the expense of engagement with voters on the issues; and to place a premium on access to large donor or special interest support, narrowing the field of otherwise worthy candidates," the SAP said.

Interestingly, the SAP did not say Obama would veto H.R. 359 if it were to pass the House and Senate, although these statements are sometimes used to warn of a veto.