For the first time in the history of public funding for presidential elections, a major party has declined to accept general election public funding. The system has existed starting with the 1976 presidential election. The decision was made by Barack Obama. By turning down $80,000,000 in public funds, this year’s Democratic presidential campaign is free to spend as much money as it can raise privately.
In past years, there hasn’t been enough money to promptly pay primary season matching funds (which have the lowest priority, when there isn’t enough money in the fund to pay all obligations). The Democratic Party’s decision of June 19 means that there will now be no shortage of funds for the primary season matching program. Assuming the FEC gets a quorum very soon, primary season funds for Ralph Nader should be available quickly. Cynthia McKinney is also striving to qualify for primary season matching funds.