Sen. Obama Won't Take Public Campaign Financing If He's the Democratic Nominee
WASHINGTON — Following the lead of his chief rivals, Sen. Barack Obama will not accept public campaign financing for either the Democratic presidential primaries or the general election if he's the nominee.
The Illinois senator has decided to forego the public funds, said an official close to the Obama campaign, who spoke on condition of anonymity. The move allows him to raise and spend unlimited private money.
Obama joins New York Sen. Hillary Rodham Clinton and for North Carolina Sen. John Edwards, both of whom recently decided to skip public financing of their campaigns. Edwards and Obama also say they won't accept money from lobbyists or political action committees.
Strategists from both parties estimate that the 2008 race could cost each nominee $500 million — far more than the Presidential Election Campaign Fund can afford. It is financed through the $3 checkoff on federal income tax returns.
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