Commission approves McCain withdrawal from Matching Payment Program

On August 21, 2008, the Commission approved Senator John McCain’s request for withdrawal from public funding under the Presidential Primary Matching Payment Account Act (Matching Payment Program). The Commission also approved a letter to the Department of the Treasury indicating that it has withdrawn its certification that Senator McCain and his principal campaign committee, John McCain, 2008, Inc. (the Committee), are entitled to payments from the Matching Payment Program and that none of the matching funds the Committee was eligible to receive through the program should be disbursed. The Committee is thus not bound by the provisions of the Matching Payment Program, including the Program’s spending limits and the Commission’s mandatory audit.

Background

Under the Matching Payment Program, the federal government matches up to $250 of an individual’s total contributions to an eligible Presidential primary candidate. Candidates have to establish eligibility to receive the matching funds by raising more than $5,000 in at least 20 states. In exchange for this public financing, candidates pledge to limit national spending for primary elections and submit to an audit by the Commission. 26 U.S.C. §§9033(a) and (b); 11 CFR 9033.1 and 9033.3.

In August of 2007, the Commission accepted Senator McCain’s application to participate in the Matching Payment Program and concluded he was able to receive $100,000 in public funds for his campaign for the Republican Party’s Presidential nomination. In December, the Commission certified that the McCain Committee was eligible for an additional $5,812,197.35 in matching funds.

On February 6, 2008, the Committee notified the Commission that it intended to withdraw from the Matching Payment Program. No matching funds were disbursed by the U.S. Treasury to the Committee.