"A Congressional Budget Office report released yesterday estimated that eliminating the program would save American taxpayers $617 million over the next ten years. Assuming that this $617 million represents money that would otherwise have to be borrowed, eliminating the program would also save in excess of $854 million in interest payments, saving taxpayers more than $1.4 billion. Even that underestimates the true cost of junking the program, as bureaucrat labor and candidate compliance costs are not considered.
'Beyond platitudes about 'serving the nation well,' supporters of the program cannot point to any evidence that tax financing of campaigns has curbed corruption,' said CCP President Sean Parnell. 'Many people have claimed that Presidents Obama, Bush or Clinton were corrupt or indebted to interest groups, but no serious allegations rest on whether they participated in this political pyramid scheme.'
In the 2008 campaign, then-candidate Barack Obama declined tax financing for his primary and general election campaigns. The Obama campaign relied on maxed-out private donors to build his campaign juggernaut and later found success in raising small contributions. No serious future presidential candidate will likely accept the government handout under the current scheme."
CCP urges vote on separation of presidential campaign and state
Center for Competitive Politics:
