Posted: November 28, 2007 6:52 PM
Dodd Reaches Eligibility for Federal Matching Funds
The Federal Election Commission announced Tuesday that Sen. Chris Dodd, D-Conn., has become eligible for federal matching money to help finance his presidential campaign.
Established in 1974 as part of the Federal Election Campaign Act, the Presidential Public Funding Program is financed by individuals who designate $3 for the fund by checking a box on their federal income tax returns.
The fund matches up to $250 of an individual’s total contribution to an eligible candidate. Those candidates who accept matching funds must agree to an overall spending limit of about $50 million and abide by thresholds in individual states.
Dodd is the second Democrat to qualify for matching funds, following former North Carolina senator John Edwards, who has said he will accept public financing. Dodd has yet to make a decision on whether to participate in the program.
In the third quarter, running from July through September, Dodd raised $1.5 million. He has brought in more than $13 million since his campaign began.
Wednesday, the senator talked with the NewsHour about his experience in the Senate and why it will help him win the White House.
“This time around, I just feel that experience is tremendously important here, to have a nominee that can attract independents, as well as Republicans, who seek change, not to mention Democrats, to win that election.” He told Judy Woodruff. “I don’t think it’s a foregone conclusion that any Democrat can win”