Candidates only get 46% of matching funds.

[Toucano]

I don't know if this has been posted yet. I searched, but didn't find it.

"Due to the fact that there are insufficient funds to pay these amounts, the Treasury Department will calculate a reduced amount for each campaign. The balance in the fund available for these payments is $2,326,585.27, which will result in payments of approximately 46 cents per dollar certified. Reduced payments will continue until the Fund has been replenished by future checkoff designations on 2003 tax returns, at which time each campaign will receive the amount it is due."

http://www.fec.gov/press/press2004/20040130matching.html

________________________________________________________


I think this stinks! It may not sink anyone, but it stinks nonetheless.

[cheezus]

1. i think they can borrow against what they're owed

[Toucano]

4. I'm sure you're right.

But it still seems strange that the money isn't there to cut them a check.

Maybe it's common.

Wouldn't they have to pay interest on the loan?

[bicentennial_baby]

2. This is why

y'all need to check that $3 box on your tax returns this year!

[girl gone mad]

6. Lobby Intuit

to make "yes" the default on TurboTax software.

Right now it defaults to "no", and most people are simply to lazy or uninformed to click on "yes".

[jmaier]

3. Yes

They will be able to borrow against the owed matching funds and then repay the loans when the matching funds are paid later when the pool is restored as people file their taxes for '03 and check off the box for contributing to the Presidential candidate fund. It happens this way many elections.

[Toucano]

5. Who do they borrow from?

And is it an interest-free loan?

[TexasPatriot]

7. they can borrow it from anyone...

i hope Soros has made some calls - that would be cool of him...

can you imagine the press?

"George Soros guaranteeing money owed by the government that it cant pay because it's broke"

[leyton]

9. It's not because the government is broke, though.

I don't know if I like that headline. It's not because the government is broke, it's because only a small percentage of taxpayers will make the effort or think it's a good idea to check that box.

For all we know, most people don't want to finance campaigns, and it is their right to withhold that $3.

[maddezmom]

8. I read somewhere today...can't remember where

that if you don't get 10% in 2 consecutive primaries, you can lose the public financing. How will they decide that when there are 7 races? Does anyone have any info?

[ButterflyBlood]

10. the simple fact that LaRouche is getting $200k

that's $200k the other candidates should be getting, and he's getting $1 million of taxpayer money altogether!

:mad:

and what's Gephardt going to do with his?

[Toucano]

11. Evidently, the Gep

will have to pay off some debt with his.