Honest Elections and Campaign, No Gain Act

When members of Congress or other federal candidates lose an election or retire, they can currently sit on leftover campaign funds for years — and sometimes use that war chest as leverage when becoming lobbyists. This bill would require former candidates to spend down their remaining campaign money within a set time frame after an election. The funds could go toward paying campaign debts, making charitable donations, or transferring to a political party. Former candidates who register as lobbyists or foreign agents would have to certify they've complied, and no leftover money could be funneled to relatives.