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