Facts About the Presidential Public Financing System

Facts About the Presidential Public Funding System

Published on: July 26, 2007

58 percent: Share of total campaign spending by 1976 presidential candidates that came from public funds. That figure fell to 21 percent in 2004.[1]
$845 million: Total spending by 2004 presidential candidates.[2] In 1976, presidential candidates spent $385 million in inflation-adjusted, 2004 dollars.[3]
$50 million: Estimated spending ceiling in the 2008 primaries for candidates who accept public funds.[4]
$21 million: Estimated maximum public funds each candidate who participates in the presidential public funding system will be eligible to receive for the 2008 primaries.[5]
49 percent: Share of campaign funds raised by George W. Bush in the 2004 election from individuals who gave $2,000, the maximum contribution.[6]
35 percent: Share of all candidates’ spending in the 1976 primaries provided by public funds.[7] In 2004, that percentage was 4 percent.[8]
$14.9 million: Official spending ceiling for the 2004 major party nominating conventions (all of which was to be provided by public funds).[9] The actual 2004 Democratic convention expenditures, including those financed with soft money, were $72 million[10] and the actual 2004 Republican convention expenditures were $101 million.[11]
$84 million: Estimated spending ceiling and public funds that will be allocated to 2008 major party nominees who participate in the public funding system.[12]
Zero: Number of major party nominees who opted out of the presidential public funding system for the general election since the system began in 1976. That streak will likely be broken in 2008.
2000: The first presidential election since the public funding system began in which a candidate won a major party nomination without accepting public funds in the primaries.

[1] Calculated from payouts from Presidential Election Campaign Fund as reported in Kelly D. Patterson, “Spending in the 2004 Election,” Financing the 2004 Election, ed. David Magelby (Brookings Institution Press, Washington, D.C., 2006) p. 72; total presidential election expenditures from Kelly D. Patterson, “Spending in the 2004 Election,” Financing the 2004 Election, ed. David Magelby (2006) p. 71; and Herb Alexander, Financing the 1976 Election, (Congressional Quarterly Press, Los Angeles, Calif., 1979), p. 166.

[2] Kelly D. Patterson, “Spending in the 2004 Election,” Financing the 2004 Election, ed. David Magelby (Brookings Institution Press, Washington, D.C., 2006), p. 132.

[3] Herb Alexander, Financing the 1976 Election, (Congressional Quarterly Press, Washington D.C., 1979), p. 171-172.

[4] “Presidential Spending Limits: ‘If the Election Were Held in 2007,’” Federal Election Commission Web site; and calculations from “Presidential Election Campaign Fund,” Federal Election Commission Web site. The Federal Election Commission will not provide official spending ceiling figures until 2008.

[5] “Presidential Spending Limits: ‘If the Election Were Held in 2007,’” Federal Election Commission Web site; and calculations from “Presidential Election Campaign Fund,” Federal Election Commission Web site. The Federal Election Commission will not provide official spending ceiling figures until 2008.

[6] “2004 Donor Demographics,” Center for Responsive Politics (Available at www.opensecrets.org). (Includes contributions of over $2,000, as some people gave to the legal/accounting fund.)

[7] Herb Alexander, Financing the 1976 Election, (Congressional Quarterly Press, Los Angeles, Calif., 1979), p. 173. “Principal” campaigns refers to candidates who met the eligibility threshold for public financing, regardless of whether the candidate accepted public financing.

[8] “Presidential Campaign Receipts,” Federal Election Commission Web site; and Kelly D. Patterson, “Spending in the 2004 Election,” Financing the 2004 Election, ed. David Magelby (Brookings Institution Press, Washington, D.C., 2006), p. 72.

[9] “Presidential Campaign Receipts,” Federal Election Commission Web site.

[10] “Presidential Campaign Receipts,” Federal Election Commission Web site.

[11] “Presidential Campaign Receipts,” Federal Election Commission Web site.

[12] “Presidential Spending Limits: ‘If the Election Were Held in 2007,’” Federal Election Commission Web site; and calculations from “Presidential Election Campaign Fund,” Federal Election Commission Web site. The Federal Election Commission will not provide official spending ceiling figures until 2008.