Malloy qualifies for up to $8.5 million in public financing
Brian Durand
FOR IMMEDIATE RELEASE
May 2, 2010
Contact:
Brian Durand
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MALLOY QUALIFIES FOR UP TO $8.5 MILLION IN PUBLIC FINANCING
Says ‘historic achievement’ will ‘guarantee the resources to compete with anyone’; Again calls on Lamont to ‘agree to spending limits and stop ignoring the will of the people of Connecticut’
May 2, 2010 – Former Stamford Mayor and current Democratic candidate for Governor Dan Malloy today announced that his campaign has raised the sufficient amount of small-dollar contributions to qualify for Connecticut’s Citizens’ Election Fund (CEP). Malloy is the first gubernatorial candidate to ever reach the goal in the program’s short history. As a result, Malloy will have up to $8.5 million to spend in the 23 weeks of the campaign that begin the day after the Democratic Convention, which will be held on May 21 and May 22.
The CEP requires gubernatorial candidates to raise $250,000 in small contributions of $100 or less, in order to demonstrate widespread support and to avoid the influence of wealthy contributors and special interests.
“I’m grateful to the more than 4,000 people who helped us reach this historic milestone, and I’m humbled by their support,” said Malloy. “And, I'm grateful to my supporters across the state and everyone who helped with our fundraising efforts. They’ve guaranteed that this campaign will have the resources to compete with anyone and everyone.”
Malloy again called on Ned Lamont to adhere to the spending limits dictated by the new law, but said if Lamont “refuses to abide by a system he once supported, we’ll have more than enough resources to compete.”
“The people of Connecticut overwhelmingly support spending limits in campaigns, and I do too,” said Malloy. “I think Ned should adhere to the spending limits he supported for years. But if he continues to ignore the will of the people, thanks to today’s announcement, we’ll have more than enough money to compete. We’ll have up to $8.5 million to spend in the 23 weeks of the campaign that begin the day after the Convention; $8.875 million if you include the amount my Lieutenant Governor will have to spend. That’s more than twice as much money as any candidate for Governor of any party has ever spent in that time period.”
“This was hard to achieve, and it should have been hard,” continued Malloy. “We’ve demonstrated the organizational strength and the grassroots support we are confident will lead to victory in an August primary and then in a November general election. And when we win, and when we are sworn in next January, the people of this state will know that their government belongs to them – not to someone’s bank account, not to a bunch of special interests. This is exactly what this law was intended to achieve.”
Under the rules of this new system a candidate who qualifies is granted $1.25M for the primary, but if another candidate puts more than that amount of his own money into the race there is a dollar for dollar match for the qualifying candidate, up to $2.5M. In the general election the qualifying candidate is granted $3M, and if that person’s opponent spends more than that amount of his own money, the qualifying candidate gets a dollar for dollar match up to $6M.
“In addition to having the resources to compete, here’s the other thing that’s really significant: I won’t have to spend hours upon hours and days upon days holed up in a little room with a telephone, asking people to give me money,” concluded Malloy. “As someone who’s had to do that in previous campaigns, I cannot overstate how important and liberating that is. I can spend every waking moment talking to voters, making my case for why I think my values and experience make me the right person for the job.”
Malloy has travelled the state in recent months sharing his ideas for moving Connecticut forward. To date, his campaign has been endorsed by 34 Democratic Town Committees, 43 DTC Chairs, scores of elected officials and community leaders, and numerous labor organizations which combined represent tens of thousands of active and retired workers throughout the state. His campaign also has the support of nearly 4,000 individual financial contributors.
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Paid for by Dan Malloy for Governor, Len Miller, Treasurer
For more information on Dan Malloy please visit www.danmalloy.com
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