Local

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...
Read More

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.

Top Content On CBSPhilly

Follow

Get every new post delivered to your Inbox.

Join 34,919 other followers