Below is a statement from Public Campaign President and CEO Nick Nyhart on the introduction of the Presidential Public Funding Act of 2007, legislation that would bring the presidential public financing system into the 21^st century.

"The race for the White House has become a race for campaign cash. Hundreds of millions of dollars are being raised by campaign bundlers and from wealthy and political elites. Candidates are spending more and more time on the phone with donors and attending high priced fundraisers, while voters who can't write thousand-dollar checks are left out of the process.

 

"We support the efforts of Senator Feingold (D-WI) and his colleagues from both sides of the aisle in introducing legislation that addresses the deficiencies of the current presidential system. We hope this Congressional attention to the ever-increasing role of money in the political process will also focus attention on public financing systems for Congress like that put forth by Senators Dick Durbin (D-IL) and Arlen Specter (R-PA) with the Fair Elections Now Act.

 

"Systems of public financing are flourishing at the state level, with increasing numbers of candidates participating each year. Reforms like the Presidential Public Funding Act and the Fair Elections Now Act will go a long way towards restoring citizens' confidence in their elected officials and will ensure that members of Congress and the president are accountable to all voters."

Successful models of full public financing systems are in place in seven states and two cities, including Arizona, Maine and Connecticut. In these states, candidates are able to run free of the influence of special interest money. Politically involved community leaders from diverse backgrounds are able to run for office without connections to wealth. Today, 84 percent of the Maine legislature and nine of 11 statewide elected officials in Arizona-including Gov. Janet Napolitano-were elected using public financing.