HEARINGS 4- SEP 20 COMMITTEE ON FINANCE. UNITED STATES SENATE. EIGHTY-NINTH CONGRESS SECOND SESSION ON S. 3496 1966 A BILL TO AUTHORIZE THE APPROPRIATION OF RUND 1370M Amendment No. 732 AMENDMENT INTENDED TO BE PROPOSED BY MR. WILLIAMS OF S. 2006 A BILL TO AMEND THE INTERNAL REVENUE CODE OF 1954 TO S. 2965 A BILL TO AMEND THE INTERNAL REVENUE CODE OF 1954 TO AND S. 3014 A BILL TO AMEND THE INTERNAL REVENUE CODE OF 1954 TO American Federation of Labor and Congress of Industrial Organizations, Barr, Hon. Joseph W., Under Secretary of the Treasury; accompanied by Cannon, Hon. Howard W., a U.S. Senator from the State of Nevada- Lobel, Martin, attorney, Lobel & Lobel, Boston, Mass Long, Hon. Russell B., U.S. Senator from the State of Lousiana_. Morton, Hon. Thruston B., a U.S. Senator from the State of Kentucky- Smathers, Hon. George A., a U.S. Senator from the State of Florida, statement read by Tom Vail, chief counsel, Senate Committee on Fin- COMMUNICATIONS Republication National Committee, statement of Fred G. Scribner, Republican State Committee of Pennsylvania, statement of Craig Truax.. Scott, Hon. Hugh, a U.S. Senator from the State of Pennsylvania, state- Scribner, Fred G., general counsel, Republican National Committee, III FINANCING POLITICAL CAMPAIGNS THURSDAY, AUGUST 18, 1966 U.S. SENATE, Washington, D.C. The committee met, pursuant to notice, at 10:05 a.m., in room 2221, New Senate Office Building, Senator Russell B. Long (chairman) presiding. Present: Senators Long, Anderson, Hartke, Williams, Curtis, and Morton. The CHAIRMAN. The committee will come to order. This morning, we will have testimony on the proper methods of financing political campaigns. On two prior occasions, this committee has initiated amendments to the Internal Revenue Code to disallow deductions for certain indirect political contributions. I believe in both cases it was on the motion of the Senator from Delaware, Senator Williams. This has made it continually more difficult for political parties to raise funds that they need to organize and carry out their campaigns. Several methods of coping with the problems of campaigning have been suggested. Most of these deal with tax incentives or tax credits, or a combination of both. Another approach has been suggested which would permit direct Federal payments to reimburse political parties for their expenses related to electing a President. Today and tomorrow, we will take testimony on all these approaches. Senator Morton will testify for one plan; Senator Clark will testify for another; Senator Cannon for another; and I will testify for a plan that I have introduced myself. If it would be agreeable to my ranking member, I would like to ask Senator Williams to act as chairman while I testify for my own plan. Senator WILLIAMS (presiding). Then, I will have the Treasury Department testify for the Johnson-Williams plan. (S. 3496, Amendment 732 to H.R. 13103, S. 2006, S. 2965, and S. 3014 follow :) [S. 3496, 89th Cong., 2d sess.] A BILL To authorize the appropriation of funds from the Treasury to help defray the costs of presidential campaigns Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Presidential Campaign Fund Act of 1966". SEC. 2. When used in this Act DEFINITIONS (a) The term "political party" means any political party which presents a candidate for election as the President of the United States. (b) The term "presidential campaign" means the political campaign held every fourth year for the election of presidential and vice-presidential electors. 1 |