FEC APPROVES MATCHING FUNDS FOR 2000 PRESIDENTIAL CANDIDATES
WASHINGTON -- The Federal Election Commission has certified $34,019,496.24 in Federal Matching Funds to eight Presidential candidates for the 2000 election. The U.S. Treasury Department will make the payments on January 3.
By comparison, in 1996, the first matching fund payments went to 10 candidates, totaling $37,353,967.40; in 1992, eight candidates received $6,372,788.31; in 1988, 12 candidates received a total of $28,748,261.05; In 1984, $7,771,960.41 was paid to six candidates; in 1980, $1,944,055.92 was paid to three candidates; and in 1976, 11 candidates received $1,880,502.21.
The following chart lists the amount certified to each candidate. Due to the fact that there are insufficient funds to pay these amounts, Treasury will calculate a reduced amount for each campaign. Reduced payments will continue until the Fund has been replenished by future checkoff designations on 1999 tax returns, at which time each campaign will receive the amount it is due. Elizabeth Dole initially qualified to receive matching funds, but her campaign withdrew its request for funds.
|Gary L. Bauer (R)||$ 3,964,359.04|
|Bill Bradley (D)||$ 8,343,853.83|
|Patrick J. Buchanan (Ref)||$ 2,372,196.26|
|Al Gore (D)||$11,070,709.82|
|Alan L. Keyes (R)||$ 1,241,434.35|
|Lyndon H. LaRouche, Jr. (D)||$ 733,767.72|
|John S. McCain (R)||$ 4,190,650.22|
|Dan Quayle (R)||$ 2,102,525.00|
To be eligible to receive Federal Matching Funds, a candidate must first raise $100,000 in contributions from individuals: $5,000-plus in 20 different states, in amounts of no more than $250 from any individual contributor. Candidates must also agree to abide by spending limits, to keep certain records, and to submit those records for audit.
Candidates may submit requests for funds once each month. The Commission will certify an amount to be paid by the U.S. Treasury the following month. Only contributions from individuals in amounts of no more than $250 are matchable. Following the primary season, candidates may be entitled to receive additional matching funds to assist in winding down their campaigns or to retire debts.
The Commission has previously certified $13,224,000 to each of the two major political parties, and $2,468,921 to the Reform Party (total = $28,916,921) for their 2000 Presidential Nominating Conventions.
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