Trump shies away from public financing for campaign

Calling tax-dollar-funded campaigns “inappropriate,” New York businessman Donald Trump revealed to the AP he is inclined to refuse public financing for the 2016 presidential election.

“I don’t like the idea of taking taxpayer money to run a campaign, Trump answered when asked by AP about financing for his campaign.

Financing for presidential campaigns is endowed through an option on tax forms in which those filing willingly donate three dollars to an election fund.

It is estimated candidates electing to secure public funding will be granted $96.14 million in 2016.

Accepting public funds does have severe limitations:  Candidates who accept the grant face extreme checks and are unable to raise outside money and are restricted as to how much money they can lend to their campaign.

Varying by state, the Federal Election Commission (FEC) restricts the amount of money each candidate spends.  For example: Under FEC rules, a candidate accepting public funds is able to spend a maximum of $23 million in California, but in 13 states is prohibited from spending above $961,400.

Trump declined to admit how much he plans to spend in his bid for the White House, but admitted he has spent anywhere between $45-$50 million during the primaries.

 

[AP] [fec.gov] [Photo courtesy CNN]