Election News and Features
Alex Brandon/AP
Democratic presidential candidate Sen. Barack Obama, D-Ill. greets labor leaders prior to
the start of an economic round table discussion, Thursday, June 19, 2008, in Washington.
(AP)
Democratic presidential candidate Sen. Barack Obama, D-Ill. greets labor leaders prior to
the start of an economic round table discussion, Thursday, June 19, 2008, in Washington.
(AP)
Obama to Fund Campaign Privately
Democratic presidential candidate Barack Obama announced that he does not plan to use public funding for his campaign.
30-Second Summary
By not accepting public funds Barack Obama has given himself the opportunity to raise as much money as possible through private donations.
So far in the campaign process, Obama has “smashed records for fund-raising, largely on the success he achieved in raising money over the Internet,” according to Reuters.
Obama said his choice was “not an easy decision,” because he favors “a robust system of public financing of elections.” However, he called the public financing of elections today a “broken system.”
Previously, Obama stated that he would accept public funds for his campaign if John McCain agreed to do the same. But he said it has become apparent that Republican presidential contender John McCain is “not going to stop the smears and attacks from his allies running so-called 527 groups, who will spend millions and millions of dollars in unlimited donations.”
The Federal Election Commission does not regulate 527 groups, which are tax-exempt organizations.
Meanwhile, John McCain’s campaign financing is also under the microscope. The Democratic National Committee recently announced that it plans to file a lawsuit to force the Federal Election Commission to examine whether McCain broke election laws by rejecting $5.8 million in taxpayer money. Turning down the funding enabled McCain to avoid some strict spending limits in his campaign.
So far in the campaign process, Obama has “smashed records for fund-raising, largely on the success he achieved in raising money over the Internet,” according to Reuters.
Obama said his choice was “not an easy decision,” because he favors “a robust system of public financing of elections.” However, he called the public financing of elections today a “broken system.”
Previously, Obama stated that he would accept public funds for his campaign if John McCain agreed to do the same. But he said it has become apparent that Republican presidential contender John McCain is “not going to stop the smears and attacks from his allies running so-called 527 groups, who will spend millions and millions of dollars in unlimited donations.”
The Federal Election Commission does not regulate 527 groups, which are tax-exempt organizations.
Meanwhile, John McCain’s campaign financing is also under the microscope. The Democratic National Committee recently announced that it plans to file a lawsuit to force the Federal Election Commission to examine whether McCain broke election laws by rejecting $5.8 million in taxpayer money. Turning down the funding enabled McCain to avoid some strict spending limits in his campaign.
Headline Links: Campaign funding decisions
Obama will forgo more than $80 million in public campaign funding as the election approaches. He expressed confidence in the ability of his supporters, though, to help with his campaign. “Instead of forcing us to rely on millions from Washington lobbyists and special interest (groups), you’ve fueled this campaign with donations of $5, $10, $20, whatever you can afford,” he declared. That effort has “built a grassroots movement of over 1.5 million Americans.”
Source: Reuters
The Presidential Election Campaign Fund Act places spending limits on presidential candidates.
Source: NPR
Related Topic: Investigating John McCain
John McCain is under scrutiny because of a $4 million line of credit his campaign obtained in 2007 to help finance his presidential bid. The loan “was not secured by the promise of public funds,” according to the Associated Press, but McCain’s bank agreement required him to reapply for public funding if he lost early primaries; the public money was to be used as collateral. Both McCain and his bankers say public funds never were used as collateral, however.
Source: Kansas City Star
Reference: Election 2008
The Federal Election Commission (FEC), which was created by Congress in 1975, enforces campaign finance laws. Learn how you can contribute to a campaign at the FEC Web site.
Source: Federal Election Commission
Read the findingDulcinea Election 2008 Web Guide to access some of the best online resources about the presidential candidates and their positions, find election coverage and learn about campaign finance matters.
Source: findingDulcinea
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