Presidential Election Campaign Fund
Quick Summary
The Presidential Election Campaign Fund is a system established in the United States to provide public financing for presidential campaigns. This system was created in the 1970s to address concerns about the influence of large private donors on presidential policies.1
Under this system, presidential candidates who agree to limit their campaign expenditures are eligible for federal matching funds. These funds are generated through a taxpayer "check-off" on federal income tax forms, allowing individuals to contribute a portion of their tax to the fund. To qualify for these matching funds, candidates must raise a minimum amount of money from small contributions in at least 20 states.1
However, candidates can choose to forgo federal matching funds, which exempts them from spending limits. Recent Supreme Court decisions, such as Citizens United v. Federal Election Commission, have also led to the rise of Super PACs, which can raise unlimited funds for independent expenditures. This has contributed to escalating campaign costs.1
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