Montana Gov. Steve BullockSteve BullockKoch-backed group launches ad campaign to support four vulnerable GOP senators Overnight Energy: US Park Police say ‘tear gas’ statements were ‘mistake’ | Trump to reopen area off New England coast for fishing | Vulnerable Republicans embrace green issues Vulnerable Republicans embrace green issues in battle to save seats MORE (D) will apply to receive public financing for his struggling presidential campaign.

In a memo Monday, Bullock’s campaign manager Jennifer Ridder cast the decision to seek out public funds for his presidential bid as a show of the governor’s commitment to campaign finance reform, an issue that he has put at the center of his campaign since announcing his candidacy in May.

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“As the only candidate for President who is choosing to participate in the public finance process, Governor Bullock is leading with his values and defending our shared belief that our democracy should never be for sale to the highest bidder,” Ridder wrote.

The Associated Press first reported on Bullock’s desire to seek public funding.

Receiving that form of financing would give Bullock’s campaign a financial boost at a critical time in the Democratic nominating contest. The Iowa caucuses are just four months away and campaigns typically look to bulk up their operations in the fall before voting begins.

Bullock raised more than $2 million in the second quarter of 2019, putting him well behind the primary field’s top fundraisers like South Bend, Ind., Mayor Pete ButtigiegPete ButtigiegScaled-back Pride Month poses challenges for fundraising, outreach Biden hopes to pick VP by Aug. 1 It’s as if a Trump operative infiltrated the Democratic primary process MORE and former Vice President Joe BidenJoe BidenHillicon Valley: Biden calls on Facebook to change political speech rules | Dems demand hearings after Georgia election chaos | Microsoft stops selling facial recognition tech to police Trump finalizing executive order calling on police to use ‘force with compassion’ The Hill’s Campaign Report: Biden campaign goes on offensive against Facebook MORE, who raised $24.8 million and $22 million, respectively.

The public campaign financing program offers participating candidates matching funds on all donations they receive up to $250. It is funded by taxpayers who opt on their tax forms to donate $3 toward the program.

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But if he receives public funds for his campaign, Bullock would be limited in how much money he can spend. In 2016, the Federal Election Commission (FEC) set that spending cap at $48.07 million. The AP reported that the cap would be set at an estimated $60 million in 2020.

For years, presidential candidates relied heavily on public financing to power their campaigns. But the use of those funds has declined since the 2000 election when then-candidate George W. Bush eschewed the program.

Bullock is expected to apply for public financing after the third fundraising quarter closes on Monday night.

Still, even if he applies for the funding, his application would have to be approved by the FEC, which does not currently have enough members to hold a meeting or vote on such a matter. 

The commission needs at least one more member to have a quorum, and there is one nominee awaiting confirmation. The Senate, however, traditionally confirms two nominees at a time.

Updated at 10:31 a.m.

Mittie B Brack News

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