House Approves Repealing Public Financing of Presidential Campaigns

The House voted 239 to 160 for a bill that would repeal public financing of presidential campaigns.

If it became law, it would open the door to even more campaign money for broadcast and cable outlets. "Today's vote is a win for common sense, as supporters of this political pyramid scheme could offer no compelling reason to continue wasting taxpayers' dollars," said Center for Competitive Politics President Sean Parnell. "Hopefully, the Senate will follow up with a vote to end these unnecessary subsidies for would-be presidents." But that hope is unikely to bear fruit. The measure has a slim to none chance of being passed in the Democratic-controlled Senate or signed by President Barack Obama. According to the Center, Sen Mitch McConnell (R-KY) introduced a similar bill not long after the House vote. But Senate Majority Leader Harry Reid (D-NV) has already signaled he will block the House bill, according to the Center.