Federal Election Commission Certifies Federal Matching Funds for Stein
WASHINGTON — The Federal Election Commission has certified a payment of $96,924.35 in federal matching funds to Jill Stein for President. The certified amount was in response to the first regular submission for matching funds made by Stein, who is seeking the Green Party nomination for president for 2016.
To become eligible for matching funds, candidates must raise a threshold amount of $100,000 by collecting $5,000 in 20 different states in amounts no greater than $250 from any individual. Other requirements to be declared eligible include agreeing to an overall spending limit, abiding by spending limits in each state, using public funds only for legitimate campaign-related expenses, keeping financial records and permitting an extensive campaign audit.
Based on Stein’s initial threshold submission in March, the Commission requested that the United States Treasury make an initial payment of $100,000 to Stein’s campaign. The amount requested from the Treasury following the Commission’s tally vote yesterday brings the total certified for the Stein campaign to $196,924.35.
Materials included with Jill Stein for President’s submission may be viewed here. Once declared eligible, campaigns may submit additional contributions for matching funds on the first business day of every month. The maximum amount a primary candidate could receive is currently estimated to be about $48.01 million.
The presidential public funding program is financed through the $3 check-off that appears on individual income tax returns. The program now has two elements: matching payments to participating candidates during the primary campaign and grants available to nominees to pay for the general election campaign. On April 3, 2014, President Barack Obama signed legislation to end the public funding of presidential nomination conventions.
Additional information about the presidential public funding program is available here. Income tax check-off data showing monthly deposits into the program’s fund is available here.
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 of Representatives, 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.###