House GOP moves to end public financing of campaigns

[cali]

By Holly Bailey

By Holly Bailey holly Bailey – 1 hr 27 mins ago

In what the GOP is billing as a cost-cutting move, the House will vote next week on legislation that would end public financing of presidential campaigns and national party conventions.

The program, which Congress enacted during the aftermath of Watergate, is funded via voluntary taxpayer contributions of $3 a year when they file their federal income taxes.

"Eliminating the program all together would save taxpayers $520 million over ten years and would require candidates and political parties to rely on private donations rather than tax dollars," according to House Majority Leader Eric Cantor's office, which announced the move on its website Thursday.

Under current rules, presidential candidates can receive federal matching money for their primary campaigns if they raise a certain amount of private funds and agree to spending limits. The program also fully funds a party nominee's general election campaign, as long as the nominee agrees to refrain from taking more private contributions.

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http://news.yahoo.com/s/yblog_theticket/20110121/ts_yblog_theticket/house-gop-moves-to-end-public-financing-of-campaigns

[tularetom]

1. I think congress should appoint a panel of CEO's from our largest corporations

and have them decide who will be the president.

No more contested elections.

No more money public or private spent on campaigns.

it'll clean up that whole democracy thing.

[Cleita]

4. +++

:thumbsup:

[OHdem10]

2. Of Course, they would. Under the New Rules for Corporations

being able to give unidentified millions, they know
they have a leg up on Democrats. They are looking
out for themselves. The Chamber of Commerce and
Big Business spent untold millions putting the GOP
in office this election.

[GreenPartyVoter]

3. Of course they are. I hope it doesn't pass. :^(