FEC Considers Obama Funding Proposal

The Federal Election Commission have released a draft which supports in principle the question posed by Barack Obama regarding public funding for a Presidential campaign.

Obama would like to be able to raise funds between now and the election, but if agreement is reached with the Republican nominee to use the public funding option, that monies raised can be then given back to donors.

A campaign without public funding could cost each campaign as much as $500 million. Public funding would net each candidate an estimated $85 million.

Leading Democrats, Hillary Clinton and John Edwards have already said that they would forgo the public finance option. Opting out of the public finance option means that candidates have no spending limits.

The draft plan from the FEC supports Obama in principle, but it will be discussed further at their next meeting on March 1.

Barack Obama has long been an advocate for public funding for election campaigns.