In Politics
In American politics the term matching funds refers to the money a presidential candidate is given by federal government to match the money they have raised personally. Candidates can expect up to US$250 extra from public funds for each contribution from an individual they receive.
This usually only applies to the two main parties; as for third party candidates gaining the benefits of matching funds they must additionally have received 5% of the popular vote in the previous election. Hence the anomaly of Ross Perot standing as Reform Party candidate in 1992 and receiving 18% of the vote, yet receiving no matching funds because the Reform Party did not receive 5% of the vote in 1988; whilst Pat Buchanan, running as the Reform Party candidate in 2000, did receive matching funds despite winning only 0.4% of the vote.
The source of the funds comes from a $3 voluntary checkoff on the U.S. Income Tax form.
The effect that these have on the candidates for presidential campaigns is to strengthen the role that the party plays in raising money.
Former New Mexico Governor Gary Johnson, the Libertarian Party (United States) candidate for President qualified for federal matching funds in the 2012 US presidential election.
On June 30, 2012 Green Party presidential candidate, Jill Stein, received enough contributions to qualify for federal matching funds.
Read more about this topic: Matching Funds
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