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Requirements for a candidate to be declared eligible for funding under the Presidential Election Campaign Fund 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.
The Revenue Act also placed limits on campaign spending by Presidential nominees who receive public money and a ban on all private contributions to them. [1] Beginning with the 1973 tax year, individual taxpayers were able to designate $1 to be applied to the Presidential Election Campaign Fund .
"campaign funds" are (legally) defined by the Federal Election Campaign Act as funds "used for purposes in connection with the campaign to influence the federal election of the candidate" (see below). [11] "Dark money": spending to influence elections where the source of the money is not disclosed to voters (see below). [12]
Overview of campaign financing for presidential candidates in September 2024 Candidate Total raised Total raised since last quarter Individual contributions Debt Spent Spent since last quarter Cash on hand Total Unitemized Pct; Harris [5] $928,210,236 $221,800,946 $437,468,126 $162,848,775 37.2% $0 $773,176,093 $269,813,057 $187,471,148 Trump [6]
The limit means a candidate could get up to $9,900 per individual if on the ballot in a primary, a runoff and the general elections. A small number of states have rule similar to Gov. Kevin Stitt ...
In 2008, the California Fair Elections Act (AB583) passed the California Assembly and Senate and was signed by Governor Arnold Schwarzenegger. Because of the ban on publicly funded elections, the law had to be approved by voters in an initiative in June 2010. On June 8, 2010, California voters decided against the measure by 57% to 43%. [8]
Outside spending is expected to play a much larger role in 2016, than it did in 2012, which was the first presidential election after the landmark 2010 decision. [ 4 ] As of July 2015, early fundraising totals for the candidates in the 2016 race have ranged from the millions of dollars to over a hundred million dollars.
American presidential campaigns have a history of working to reach the legal maximum donations from single donors. In 2008, Barack Obama's presidential campaign sought $30,000 in donations from big donors, which was the legal limit for donations to the campaign and related fundraising committees. In 2014, the Supreme Court case McCutcheon v.