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Chris Christie To Tap Public Matching Funds For Re-Election Bid

New Jersey Governor Chris Christie. (credit: Jeff Zelevansky/ Getty Images)

New Jersey Governor Chris Christie. (credit: Jeff Zelevansky/ Getty Images)

David Madden David Madden
David Madden is a Philadelphia native with virtually a lifetime of...
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By David Madden

TRENTON, N.J. (CBS) — New Jersey governor Chris Christie will accept matching state funds in his quest for a second term.

It’s a simple matter of mathematics for Bill Palatucci, chairman of Christie’s campaign.

“The way New Jersey law is written, it’s a very rich match,” Palatucci explains.  “The state gives you two dollars for every dollar that you raise.  So, the four-plus million dollars that we’ve raised over the summer turns into 12 million dollars.”

The maximum amount that can be matched is $4.22 million.  Palatucci says the total will be enough, in his estimation, for Christie to wage a credible campaign this fall — running the state, running for re-election, and helping fellow Republicans on the ballot.

By contrast, his Democratic opponent, state senator Barbara Buono, has raised less than a half-million dollars since the June primary, according to public filings.

Taking public money not only sets a spending limit but requires participation in at least two gubernatorial debates.

Buono has made only one public filing since winning her party’s primary with $450,000.

The first $120,000 raised is not eligible for the public match.

Christie also tapped matching funds in 2009.