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Obama and McCain Agree to Public Funding of Compaigns |
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Written by Staff Writer
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Mar 01, 2007 at 08:19 PM |
Obama, McCain Say They Would Agree to Public Campaign Financing
Democrat Barack Obama and Republican John McCain said they'll accept public funds and spending limits for the 2008 presidential election if they win their party nominations and their opponents agree to do the same.
The two U.S. senators reacted today to a ruling by the U.S. Federal Election Commission allowing Obama to raise money for a general campaign and return it later if he decides to accept federal funds. Obama said he'll keep money for the general election in a separate account and not spend it.
Their moves may shore up the three-decade-old public funding program, which was in danger of collapse as candidates opted out to avoid the program's spending limits. Democratic frontrunner Hillary Clinton led the way in rejecting the system by beginning to raise funds for the general campaign right away.
``If Senator Obama is the nominee, he will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election,'' Obama spokesman Bill Burton said in a statement e-mailed to reporters.
McCain's campaign manager, Terry Nelson, then followed suit.
``The McCain campaign will now begin the process of accepting these general election funds, following the new FEC guidelines,'' Nelson said. ``Should John McCain win the Republican nomination, we will agree to accept public financing in the general election if the Democratic nominee agrees to do the same.''
Watergate
The public finance system was created after the Watergate scandal as a way of reducing the influence of big donors. While McCain, of Arizona, sponsored a 2002 law intended to rein in campaign fund raising, he hadn't yet committed to taking public funds to salvage public financing.
Clinton's campaign is considering a change in its position after the FEC ruling, spokesman Phil Singer said. The campaign of former Democratic vice presidential candidate John Edwards didn't have an immediate comment.
Rudy Giuliani, the former Republican mayor of New York, hasn't made a decision on federal financing yet, though he will now start raising money for the general campaign, said spokeswoman Maria Comella. Kevin Madden, a spokesman for former Republican Massachusetts Governor Mitt Romney, said his focus ``remains on the primary'' though the ruling ``expands the universe of available financing options.''
Until now, every major party presidential candidate has participated in the federal financing system since it began. It offers matching funds in primary campaigns and a one-time grant in the general campaign, funded by Americans who tick a box on their tax returns sending $3 to the program.
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Last Updated ( Mar 01, 2007 at 09:13 PM )
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