Both Major Parties to Receive Public Funding for 2000 Conventions

BOTH MAJOR PARTIES TO RECEIVE PUBLIC FUNDING FOR 2000 CONVENTIONS

WASHINGTON – Each of the two major political parties’ convention committees will receive $13,224,000 from the U.S. Treasury for planning and conducting their 2000 Presidential nominating conventions. The 2000 Democratic National Convention Committee, Inc. will hold its convention in Los Angeles, CA, from August 14-17, 2000. The Committee on Arrangements for the 2000 Republican National Convention will have its convention in Philadelphia, PA, July 29-August 4, 2000.

The Federal Election Commission today certified that the two convention committees had met all eligibility requirements and 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:

1996 - $12,364,000 1988 - $ 9,220,000 1980 - $ 4,416,000

1992 - $11,048,000 1984 - $ 8,080,000 1976 - $ 2,182,000

[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.]

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 2000. 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.

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