R. Sam Garrett
Specialist in American National Government
There is a consensus that, in 2012 and beyond, the most competitive presidential candidates will either need substantial additional resources via a reformed public financing program or will need to engage in substantial private fundraising. For some, this signals an urgent need to save the public campaign financing program that has existed since the 1970s; for others, it signals the program’s demise.
Several bills introduced in the 112th Congress would terminate all or parts of the program. On January 26, 2011, the House passed (239-160) H.R. 359, sponsored by Representative Tom Cole, to repeal public financing of presidential campaigns and nominating conventions. If the Senate decides to pursue that bill or companion S. 194 (introduced by Senator Mitch McConnell), Senators might seek to curtail all or part of the program, strengthen the program, or pursue other options. Almost a year after passing H.R. 359, on December 1, 2011, the House passed (235-190) H.R. 3463. The latter bill proposes to terminate the public financing program (in addition to eliminating the Election Assistance Commission) and transfer remaining amounts to the general fund of the U.S. Treasury for use in deficit reduction. In addition, Section 620 of the FY2012 Financial Services and General Government appropriations bill, H.R. 2434, contains a provision that would prohibit spending funds to administer the public financing program for the fiscal year.
This report provides a brief policy overview and raises potential issues for congressional consideration. Readers are encouraged to consult the following CRS products for additional information.
• CRS Report RL34534, Public Financing of Presidential Campaigns: Overview and Analysis, by R. Sam Garrett;
• CRS Report RL34630, Federal Funding of Presidential Nominating Conventions: Overview and Policy Options, by R. Sam Garrett and Shawn Reese; and
• CRS Report R41542, The State of Campaign Finance Policy: Recent Developments and Issues for Congress, by R. Sam Garrett (the “Public Financing Issues” section).
For a discussion of constitutional considerations, which are beyond the scope of this report and those noted above, readers may consult CRS Report RL30669, The Constitutionality of Campaign Finance Regulation: Buckley v. Valeo and Its Supreme Court Progeny, by L. Paige Whitaker.
Date of Report: December 5, 2011
Number of Pages: 5
Order Number: R41604
Price: $19.95
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