Public Financing of Campaigns Down for 1992

WASHINGTON —  A total of $325 million was spent by all candidates and parties in this year’s presidential election campaign but public financing of candidates through the $1 income tax checkoff continued to decline, the Federal Election Commission reported Monday.

For the 1992 election, fewer than 19% of all taxpayers chose to earmark $1 of their taxes for political purposes, extending a decline that began a decade ago, FEC Chairwoman Joan Aikens told a news briefing.

The income tax checkoff generates matching funds for primary election candidates, subsidizes the Democratic and Republican conventions and provides funds for use in the general election campaign, commission officials said.

This year, public financing accounted for $175 million--slightly more than half--of total spending on the presidential campaign. Independent candidate Ross Perot spent about $60 million without accepting any public funds.

Aikens said the commission is not sure why Americans have grown increasingly reluctant to earmark tax money to support the political process. The checkoff was approved by Congress 16 years ago in an effort to reduce the influence of major political donors and to free presidential candidates from the constant pressure of fund raising.