News Releases, Media Advisories
|For Immediate Release
June 30, 2003
|BOTH MAJOR PARTIES TO RECEIVE PUBLIC FUNDING FOR 2004 CONVENTIONS|
|WASHINGTON Each of the
two major political partys convention committees will receive $14,592,000 from the
U.S. Treasury for planning and conducting their respective 2004 presidential nominating
conventions. The 2004 Democratic National Convention Committee, Inc. will hold its
convention in Boston, MA, from July 26-29, 2004. The Committee on Arrangements for the
2004 Republican National Convention will have its convention in New York, NY, August 30
September 2, 2004.
The Federal Election Commission has certified that the two convention committees have met all eligibility requirements and the Commission today sent letters to the Secretary of the Treasury, requesting that the payments be made.
Federal election law permits all eligible national committees of major and minor parties to receive public funds to pay the official costs of their presidential nominating conventions. Each major party convention committee is entitled to receive $4 million*, plus an adjustment for inflation (since 1974). The payments for each major party convention historically have been:
Initial payments are made by the U.S. Treasury on or after July 1 of the year preceding the presidential election. Payments for an additional cost-of-living adjustment will be made in 2004. In exchange for public funding of the conventions, committees agree to certain requirements, including spending limits, the filing of periodic disclosure reports, and detailed audits.
The public funding portion of presidential elections is financed by the Presidential Election Campaign Fund, which receives funds through dollars voluntarily "checked off" by taxpayers on federal income tax forms.
*Originally, the limit was $2 million, plus COLA. That figure was increased to $3 million, plus COLA, for the 1980 conventions and to $4 million, plus COLA, for the 1984 conventions.