Both Major Parties to Receive Public Funding for 2008 Conventions

For Immediate Release                                                                               Contact: Bob Biersack
June 26, 2007                                                                                                         George Smaragdis
                                                                                                                              Michelle Ryan

BOTH MAJOR PARTIES TO RECEIVE PUBLIC FUNDING FOR 2008 CONVENTIONS

WASHINGTON – The Federal Election Commission (FEC/the Commission) today announced that each of the two major political parties’ convention committees will receive initial payments of $16,356,000 from the U.S. Treasury for planning and conducting their respective 2008 Presidential nominating conventions. The 2008 Democratic National Convention Committee, Inc. will hold its convention in Denver, Colorado, from August 25-28, 2008. The Committee on Arrangements for the 2008 Republican National Convention will host its convention in Minneapolis-Saint Paul, Minnesota, from September 1-4, 2008.

The FEC 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 help 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 (COLA) will be made in 2008. 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. For additional information consult the FEC website at http://www.fec.gov/press/bkgnd/fund.shtml.

The Federal Election Commission (FEC) is an independent regulatory agency that administers and enforces federal campaign finance laws. The FEC has jurisdiction over the financing of campaigns for the U.S. House, the U.S. Senate, the Presidency and the Vice Presidency. Established in 1975, the FEC is composed of six Commissioners who are nominated by the President and confirmed by the U.S. Senate.

*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.

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