FEC Approves Matching Funds for 2004 Presidential Candidates

FEC APPROVES MATCHING FUNDS FOR 2004 PRESIDENTIAL CANDIDATES

WASHINGTON ? On May 27 and 28, the Federal Election Commission certified $169,648.28 in Federal Matching Funds to two Presidential candidates for the 2004 election.  The U.S. Treasury Department will make payments on June 1. 

 This raises to $27,183,143.79 the total amount of federal funds certified thus far to eight candidates. 

  The following chart lists the amount certified to the candidate, along with the cumulative amount each 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.  The Commission expects that tax check-off deposits for February should be sufficient for Treasury to make full payments of all certified funds in March.  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.

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