McCain Says No to Public Funds

Arizona Senator John McCain, who is in the middle of a heated primary race for the Republican Party's presidential nomination with former Massachusetts Governor Mitt Romney, has decided to forego public funding in his quest for the White House. Candidates who accept public financing for presidential campaigns are strictly limited in the amount of campaign spending they can do, both by the states and by the federal government.

McCain, whose presidential campaign was severely short of funds, in fact nearly bankrupt, early in the primary season, has experienced a significant increase in support since winning electoral contests in New Hampshire, South Carolina and Florida. At one point last summer, McCain was forced to scale back his campaign operation and trim the size of his campaign staff. With nine months left to go before the presidential election, the Center for Responsive Politics says this election's crop of presidential candidates spent more money during last year, 2007, than the total amount of money spent in seven of the last eight presidential elections.

McCain is hardly the first candidate to bypass federal funding for the presidential campaign. Current President George W. Bush did it in 2000, running against Al Gore, and again in 2004, when he faced Massachusetts Senator John Kerry, and nearly all candidates for the White House this year have elected to forego the public funding mechanism for their campaigns. Public funding provides presidential candidates with federal government funds that are to be used in both the party primary and in the general election.

According to the Federal Election Commission, federal funding of presidential campaigns began in 1976, but was first recommended by President Theodore Roosevelt in 1907. Roosevelt also proposed a complete ban on private donations. With a spending limit of just over $50 million, candidates could find themselves limited in tough, closely contested primaries that require substantial amounts of money to remain competitive.

Despite McCain's early money troubles, the Arizona Senator now finds himself gaining ground and moving closer to securing his party's nomination for the White House. A strong showing by McCain in the more than twenty electoral contests held on "Super Tuesday" could put Romney out of the running for the GOP nod. And if McCain does manage to win the Republican nomination, he will need all the funding he can get to compete with either Barack Obama or Hillary Clinton, both of whom have far exceeded the fundraising of Republican candidates.

Sources: CRP, FEC,