FEC Approves Matching Funds for 2004 Presidential Candidates
|For Immediate Release
July 13, 2004
|FEC APPROVES MATCHING FUNDS FOR 2004 PRESIDENTIAL CANDIDATE|
WASHINGTON-The Federal Election Commission has certified $298,758.66 in Federal Matching Funds to one Presidential candidate for the 2004 election. The U.S. Treasury Department made the payment on July 1.
This raises to $27,067,681.32 the total amount of federal funds certified thus far to seven candidates who are currently eligible to receive federal primary matching funds.
The following chart lists the amount certified to the candidate, along with the cumulative amount he has been certified to date.
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. While individuals can contribute up to $2,000 to a candidate, only $250 per individual applies towards the $5,000 requirement in each state. Candidates must also agree to abide by spending limits, to keep certain records, and to submit those records for audit. 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 $14,924,000 to each of the two major political parties, for their 2004 Presidential Nominating Conventions.
*This amount reflects what the candidate has been paid. His cumulative certifications were higher but the Commission rescinded part of that amount.