[Congressional Record Volume 157, Number 19 (Tuesday, February 8, 2011)]
[Extensions of Remarks]
[Page E148]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        ELIMINATING TAXPAYER FINANCING OF PRESIDENTIAL ELECTIONS

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                               speech of

                        HON. MICHAEL E. CAPUANO

                            of massachusetts

                    in the house of representatives

                      Wednesday, January 26, 2011

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 359) to 
     reduce Federal spending and the deficit by terminating 
     taxpayer financing of presidential election campaigns and 
     party conventions:

  Mr. CAPUANO. Mr. Chair, I rise today in opposition to H.R. 359, To 
reduce Federal spending and the deficit by terminating taxpayer 
financing of presidential election campaigns and party conventions. It 
is my fervent belief that in this age of increasing corporate donations 
and outside influence on the American elections process, we need to 
improve public financing systems, not end them outright.
  As we all know, the Presidential Election Campaign Fund was born out 
of the Watergate scandal as a way to provide transparency and integrity 
to presidential elections. The tax check off box has given millions of 
Americans the opportunity to support more open elections for over 30 
years, and polling indicates that voters favor a transition to public 
financing for all federal elections, not just presidential races.
  I concede that the system created in the 1970's has not changed much 
since its inception and could be greatly improved to better reflect the 
realities of campaigns today. The solution to this is to fix the 
Presidential Election Campaign Fund, not end it. I urge defeat of H.R. 
359 today and look forward to working with my colleagues to instead 
improve our options for campaign financing moving forward.

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