FEC Approves Matching Funds for 2004 Presidential Candidates

By comparison, in 2000, the first matching fund payments went to eight candidates, totaling $34,019,496.24; in 1996, 10 candidates received $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. While the Fund contains sufficient funds to pay these certifications in full, there may not be sufficient monies in the Fund to pay full certifications in February. Reduced payments will continue until the Fund has been replenished by future checkoff designations on 2003 tax returns, at which time each campaign will receive the amount it is due. Howard Dean initially qualified to receive matching funds, but his campaign withdrew its request for funds.

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. In addition to Howard Dean, John Kerry and President Bush have declined to participate in the Matching Fund program.

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 $14,592,000 to each of the two major political parties, for their 2004 Presidential Nominating Conventions.

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