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Jul 27, 2006 -- Presidential Public Financing Report Released as New Legislation is Introduced In conjunction with the introduction of the presidential public financing legislation in the House and Senate, the Campaign Legal Center and Democracy 21 released a report Presidential Public Financing: Repairing the System . The report made public today is based on the December 2005 conference that brought together a bipartisan group of experts to discuss the system and how to bring it into line with the realities of Presidential elections in the 21st Century. The report highlights the importance of the presidential public financing system, defines some of the current problems the system faces, and offers guidance on how to begin addressing these problems.
The presidential public financing system has been described as the "crown jewel" of campaign finance regulation in this country. Created shortly after the Watergate scandal, the system reduces the enormous fundraising burden on candidates, discourages massive fundraising, and enables candidates who are not independently wealthy to participate effectively in the process. The system also encourages healthy competition in presidential campaigns, and provides incentives for candidates to focus on s mall donors rather than big money interests. These characteristics of the system open the presidential election process up in way that promotes a healthy democracy.
"In the wake of the Jack Abramoff , "Duke" Cunningham and other congressional corruption scandals, it is now more important than ever to maintain systems that are meant to increase public involvement in campaigns, protect the integrity of our democracy, and guard against the appearance of corruption in our presidential campaigns," said Meredith McGehee, Policy Director of the Campaign Legal Center. "Fixing the presidential public financing system is vital to restoring public confidence in Presidential elections, and Representatives Christopher Shays (R-CT) and Marty Meehan (D-MA) and Senator Russell Feingold (D-WI) are to be commended for leading the way on this issue that is so important to our democracy."
Presidential Public Financing: Repairing the System consists of a conference summary and recommendations on how to repair the presidential public financing system. The report also includes complete transcripts of the conference panelists including FEC Commissioners, scholars, public interest and business leaders, and policy and public opinion experts.
To download the complete report, click here.
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