Candidates in the 2016 presidential race would see a dramatic shift in fundraising success under a proposed small donor public financing system, according to a study released on Thursday by U.S. PIRG Education Fund. Using third quarter fundraising data filed with the Federal Election Commission (FEC) this October, the report examines the impact of a program that matches small contributions with limited public funds for candidates who agree not to accept large donations.
“Right now, most candidates from both parties are dependent on large donors to fund their campaigns, while voters across the political spectrum are calling for reform,” said Dan Smith, Democracy Program Director for U.S. PIRG Education Fund and report author. “It doesn’t have to be that way. A small donor matching program would fundamentally change the way our elections work, giving candidates who engage with regular Americans a chance to compete with fundraising by those who choose to rely on big money.”
U.S. PIRG Education Fund’s study examines the impact of a small donor matching system similar to those proposed in the Government by the People Act (H.R. 20) and the Fair Elections Now Act (S. 1538). Both of these bills propose a program that would match small contributions with limited public funds at a rate of six-to-one or more and establish lower maximum contribution limits for participating candidates.