Group proposes big changes to presidential public financing system

[MaineDem]

By Sharon Theimer, Associated Press, 9/22/2003

WASHINGTON -- A campaign finance group Monday recommended broad changes to the presidential public financing program funded by taxpayers with a $3 checkoff on their returns, saying an overhaul is needed if the post-Watergate reform is to survive.

President Bush's decision to opt out of primary public financing and its spending limits for the second time and the possibility that at least two of the 2004 Democratic hopefuls will do so show the system needs changes to become more attractive to candidates, according to a task force organized by the nonpartisan Campaign Finance Institute.

/snip/

Its proposals include:

-- Raising the taxpayer checkoff to $5, generating an estimated $122.6 million more for the program.

-- Giving primary candidates a 3-to-1 match for the first $100 of each contribution rather than the current 1-to-1 match for the first $250 of a donation.

-- Raising the primary spending limit to the same amount as the general election, from the current $45 million to about $74 million.

more==> http://www.boston.com/news/daily/22/president_money.htm

[Mairead]

1. Except the only real change needed is to forbid private financing.