Edwards now eligible for public funds; Spending limits could put him at disadvantage

AP: Edwards now eligible for public funds
By JIM KUHNHENN, Associated Press Writer
Thu Nov 1

WASHINGTON - The Federal Election Commission on Thursday declared Democratic presidential candidate John Edwards officially eligible for federal matching money to help finance his campaign. The step acknowledges that Edwards has met the minimum requirements to obtain money from the Presidential Public Funding Program, which is financed by taxpayers who set aside $3 for the fund in their tax returns. The decision means Edwards can now supplement his fundraising with millions of dollars from the presidential fund. The maximum available to a candidate this year would be about $21 million.

Edwards' fundraising has been lagging far behind rivals Hillary Rodham Clinton and Barack Obama. Between January and the end of September, Edwards had raised $30 million while Obama and Clinton had raised $80 million each.

The presidential fund matches the first $250 of each individual primary contribution to an eligible candidate. To obtain the money, candidates must abide by spending limits in each primary state and to an overall spending limit of about $50 million. That figure does not include money spent on staff, fundraising and several other costs that could significantly increase the base limit. Those spending limits could put Edwards at a disadvantage against well-financed opponents such as Clinton and Obama, who have no limits on how much they spend.

The Federal Election Commission will not make the money available until Jan. 2, but candidates typically borrow in anticipation of receiving the funds....

http://news.yahoo.com/s/ap/edwards_funds;_ylt=AgwYb7ucc1Q5qE03LdcVynXkbeRF

No donations, no matching funds!



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