Clinton Rejects Public Campaign Funds
Posted on: Monday, 22 January 2007, 21:00 CST
U.S. Sen. Hillary Rodham Clinton, D-N.Y., will not take public money for her presidential campaign, Clinton senior adviser Howard Wolfson says.
Clinton isn't turning the matching funds down for the public good -- the anticipated grant of $83.8 million for the general election might be far less than what she could raise on her own, the Los Angeles Times reported Monday.
The report said other majority party nominees are also expected to turn down the public funds.
Clinton's Web site suggests donors contribute $2,100 for the primary and an additional $2,100 for the general election. If a candidate takes public money for the general election, he or she cannot sanction fundraising.
The public financing system, implemented after the Watergate scandal, was intended to curtail the influence of big money donors and to help more candidates compete. Runaway costs and increasingly complex fundraising practices, coupled with lukewarm support from the public, motivate candidates like Clinton to raise their own funds, the Times said.
The Federal Election Commission gave $75 million apiece to Sen. John Kerry and George W. Bush for the general election in 2004. But both candidates turned public money down for the primaries because they could raise more money than the law permits.
As of December, Clinton had $14.4 million in her campaign account, the newspaper says, adding that experts project she could raise $100 million by the end of 2007.
Source: United Press International
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