In an unprecedented move, former Vice President Mike Pence sought public financing for his failed 2024 presidential primary campaign, according to undisclosed Federal Election Commission documents. If successful, Pence would be the first Republican in over a decade to receive such funds.
The public financing program for presidential candidates was established after the Watergate scandal, allowing candidates to apply for and receive federal funds. However, the program has become virtually obsolete due to strict spending limits that cannot keep up with the soaring costs of nationwide campaigning.
Applying for these funds is generally seen as a sign of desperation, as the program’s limits are so restrictive. Pence, who served as Donald Trump’s running mate in 2016 and 2020 before challenging him in 2024, struggled to gain traction from the start.
Campaigning as a representative of the Republican establishment and warning against Trump’s populism, Pence raised around $5.3 million in 2024 but never gained significant support in polls. He dropped out in late October, facing the possibility of not qualifying for another debate.
As of March, Pence’s campaign committee had over $1.3 million in unpaid debts. Qualifying for public funds could help him pay down these bills. A Pence spokesperson did not immediately respond to a request for comment.
To qualify for the program, candidates must raise $5,000 in at least 20 states and cannot spend more than $50,000 of their own money. Notably, Pence initially seeded his campaign with $150,000 but refunded $100,000 in October, potentially making him eligible for public funds.
The public financing program’s relevance has diminished over time. No Democrat or Republican used it in 2020, and the last major-party candidate to receive matching funds in a primary was Martin O’Malley in 2016. The last to receive funds for a general election was John McCain in 2008.
Barack Obama’s decision to opt out of public financing in 2008 is widely regarded as the functional end of the program for general election campaigns.