FEC allows McCain to withdraw from primary matching funds program

"Campaign - Presidential"

08/21/2008

(CNN) – In a unanimous decision Thursday, the Federal Election Commission granted a request from John McCain’s campaign to withdraw from a program that provides presidential candidates with matching funds during the primary season.

The Democratic National Committee filed a complaint with the FEC earlier this year after the McCain campaign announced that it was withdrawing from the primary season matching funds program, in a bid to avoid spending restrictions that would have resulted if they participated. Democrats argued that the McCain camp could not legally opt out after obtaining a $4 million line of credit using the prospect of the public matching funds as collateral, and could not unilaterally withdraw without approval from the FEC, which did not have a voting quorum for much of the year. The party also called for an FEC investigation of McCain’s campaign finances.

The McCain campaign had said that the possibility of receiving public matching funds was not in reality the collateral for the line of credit that kept the Arizona senator’s campaign afloat.

The DNC has not yet said whether they will continue to press for a federal investigation.