A Silent Bernie Sanders DU supporters thread-who are we so far?

[Agnosticsherbet]

86. If he does this every day for 365 days, he will raise $547,500,000

And that is about half of what he will need to run in the General election.

He can receive more money in matching funds, though it would not bring him anywhere close to his likely competitors in the general.

He will have to do much better.

PRIMARY MATCHING FUNDS

Partial public funding is available to presidential primary candidates in the form of federal matching payments. Candidates seeking their party’s nomination to the presidency can qualify to receive matching funds by raising at least $5,000 in each of 20 states. Only contributions from individuals, and only contributions up to $250, are matchable. While an individual could have contributed up to $2,500 to a candidate during the 2011-2012 election cycle (a change included in the Bipartisan Campaign Reform Act of 2002 (BCRA), increasing the limit from $1,000), only $250 of an individual’s contribution can be applied toward the $5,000 threshold in each state.

Primary election candidates must agree to an overall spending limit and spending limits in each state. The overall base spending limit for presidential primary campaigns is $10,000,000, plus COLA (over 1974). For the 2012 primary season, the base spending limit was $45,620,700. Certain fundraising expenses (up to 20% of the base expenditure limit) are exempt from that base limit. Therefore, the effective primary expenditure limit in 2012 was $54,744,840. Candidates may also spend up to 15% of the overall spending limit for legal and accounting costs incurred to comply with the FECA and the Presidential Election Campaign Fund Act. These disbursements do not count against spending limits.

THE MATCHING FUND PROCESS (very generally)

Candidates may apply for eligibility any time but no money can be paid out until January of the election year. All money raised for a presidential primary election is potentially matchable. Campaigns may submit requests for funds once per month. (Twice-monthly submissions and letter requests used to be the rule, but this was changed because of the potential for a shortfall in available funds.) In the event of a shortfall, all eligible candidates will get a percentage of the total amount to which they are entitled. The percentage will be determined by supply and demand.

Once the Commission determines that a candidate has met the eligibility criteria, the candidate may submit evidence of contributions from individuals for matching. The Commission’s audit staff reviews these submissions to determine whether the requests meet the standards for matchability. The maximum amount of matching funds a candidate may receive is limited to 50% of the base spending limit. In 2012, presidential primary candidates who accepted public funding had a maximum entitlement of $22,810,350 (50% of $45,620,700).