Philadelphia, June 22, 2017 – Council members Derek Green, Maria Quiñones-Sánchez, Bobby Henon, Mark Squilla and Helen Gym introduced a proposal to create a public financing of elections program for City elections.
“This program will shift the balance of power between political action committees and smaller dollar Philadelphia donors who contribute to political candidates by amplifying the value of the small dollar donor contributions,” said Green. “In addition, candidates who participate in the program, will be subject to additional transparency requirements that will help the public better understand the influence of money in political campaigns.”
“Traditional power structures make it hard for new, diverse voices to run competitive campaigns. Public campaign financing can lower these barriers to participation for candidates who may not otherwise have the access to political resources to run for office,” said Quiñones-Sánchez.
“This program will change the way that candidates raise money. Instead of focusing fundraising time on wealthy donors and political action committees, candidates will have an incentive to seek a broader base of support from small dollar donors whose contributions will be amplified by the public dollar match,” said Henon.
The proposal, which was co-sponsored by Councilwoman Gym and Councilman Squilla, would set create a matching funds program for candidates for City offices. Candidates who participate in the program can receive a capped amount of public matching funds of $5 for every $1 raised from individuals, up to $150 per individual.
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