Uh Oh. Big Trouble with Federal Matching Funds... FEC comes up short

[Melinda]

FEC to Divide $15.4M Among 6 Candidates

WASHINGTON - The government will give six presidential candidates $15.4 million combined in federal matching funds on Friday, less than half of the amount it divided among presidential candidates during the same period in 2000.

The Federal Election Commission certified the first checks on Wednesday for those participating in the presidential public financing system in 2004. The FEC's first checks in 2000 totaled $34 million for eight candidates. In 1996, the amount was $37.4 million for 10 hopefuls.

Wesley Clark, the retired Army general from Arkansas who entered the race in September and months after his rivals, will get a $3.7 million payment, the largest amount of federal matching funds. That's followed by $3.6 million for Connecticut Sen. Joe Lieberman, $3.4 million for North Carolina Sen. John Edwards and $3.1 million for Missouri Rep. Dick Gephardt. Ohio Rep. Dennis Kucinich (news - web sites) will get $736,000 and perennial presidential candidate Lyndon LaRouche will get $839,000.

-snip-

The program's first payments will be delivered Friday and will match contributions candidates received from last January through November. Candidates then can apply for additional matching funds once each month.

The FEC said Wednesday that it may not have enough money in the fund come February when the second batch of payments is due to candidates. As a result candidates will receive reduced payments until the fund is replenished by contributions from 2003 tax returns.


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This does not portend well for any of the candidates, but most especially those not named Dean or Clark - and not a one of us should be happy about this. What to do?

[incapsulated]

1. And look at this..

"The FEC said Wednesday that it may not have enough money in the fund come February when the second batch of payments is due to candidates. As a result candidates will receive reduced payments until the fund is replenished by contributions from 2003 tax returns."

Too late by a mile. :(

[neuvocat]

2. Well...

I suppose that there would have to be the continued reliance on the strength of donations. That, along with the funds provided by George Soros may be enough to help bridge the gap.

[ClintonTyree]

3. I can almost guarantee...............

that if it were the Republicans competing for the nomination, the funds would miraculously grow to pre-2004 levels. Things just have a way of favoring the GOP, I wonder why that is? Dumb luck I guess.....

[Turkw]

12. I can guarantee that if it were the Repubs the Liars would be screaming

non stop. We need to do some sreaming of our own. Make the administration say what they are going to do about it. Then Scream about that. Write letters, if you can write a post, write a letter.

[izzie]

4. Is it in Iraq?

n/t

[RC]

6. Look under cheney's mattress.

How many mattress does he own?

[robbedvoter]

5. Of all the things to be happy about in this new year...

May you get everything you wish!

[tsipple]

7. Didn't You Mean "Not Named Dean or Kerry"?

Dean and Kerry are the only ones who opted out of the federal matching funds system, so if the Federal Election Commission runs out of money after this month's checks, they're not affected.

Edwards, Clark, Kucinich, Lieberman, Gephardt, and LaRouche will be. If they don't get the February check (or get a smaller one) they won't have the money they were expecting for Super Tuesday and Southern Tuesday if they're still in the race.

[Melinda]

10. D'oh, yes... Dean or Kerry.

Late night post, sorry.

[Walt Starr]

8. That fund is 100% the money collected from the tax return check box

I ALWAYS say yes.

Most tax payers ALWAYS say no.

Dean was brilliant not to take it.

[Eric J in MN]

9. Howard Dean was right to opt out. Is it too late for Clark to opt out?

This is bogus that the FEC won't be giving the candidates matching funds in a timely manner.

Could Clark still opt out?

[chocolateeater]

14. It's too late to opt out n/t

[Hep]

11. Dean opponents can begin thanking Dean now.

Because had he taken the funds, He would have been entitled to far more than anyone else, thus reducing the amount doled out to the others.

You're welcome.

[Walt Starr]

13. This Dean supporter intends to check NO

on his tax form for the first time in my life!

Why should I donate even a penny to one of the other candidates?

[Scott Lee]

15. Dean is about 5 mil from what his federal cap would have been.

We accept the apologies of the Dean opponents, regarding Dean's predicted inability to get enough funds without opting in to the fed matching monies.

[IndianaGreen]

16. Many taxpayers quit giving the $3 to the fund years ago

and I count myself among them!

[Scott Lee]

17. Last year I actually requested my money BACK from previous

donations to the "presidential election fund". That must be why I'm being audited.

The IRS isn't known for their overriding sense of humor.