News Releases, Media Advisories
|For Immediate Release
December 2, 2003
GEPHARDT FOURTH PRESIDENTIAL CANDIDATE DECLARED ELIGIBLE
FOR PRIMARY MATCHING FUNDS IN 2004 RACE
WASHINGTON – Richard Gephardt became the fourth 2004 presidential candidate
to be declared eligible by the Federal Election Commission to receive
federal matching funds. Gephardt is seeking the Democratic nomination for
president in 2004.
To become eligible for matching funds, candidates must raise a threshold amount of $100,000 by collecting $5,000 in 20 different states in amounts no greater than $250 from any individual. Other requirements to be declared eligible include agreeing to an overall spending limit, abiding by spending limits in each state, using public funds only for legitimate campaign-related expenses, keeping financial records and permitting an extensive campaign audit.
Based on documents filed by the Gephardt campaign on November 4, 2003, contributions from the following states were verified for threshold purposes: California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Illinois, Kansas, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Texas, and Virginia.
Once declared eligible, campaigns may submit additional contributions for matching funds on the first business day of every month. The U.S. Treasury Department will pay the FEC-certified amounts beginning in January 2004. The maximum amount a candidate could receive is currently estimated to be $18.6 million.
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