Democratic presidential hopeful John Edwards announced he'll be participating in the presidential public financing system for the primary, and will also participate in the program in the general election if he is the nominee and if the Republican nominee agrees to do the same.
Here, courtesy of the New York Times, is what his campaign had to say about his decision:
“You can’t buy your way to the Democratic nomination – you should have to earn the votes of the American people with bold vision and ideas. This is the most expensive presidential campaign in history, by far. And the simple fact is that the influence of money in politics – and the focus on raising money in this election – has gotten out of control. It’s time to get back to focusing on the issues that matter to the American people. That’s why John Edwards has decided to play by the rules that were designed to ensure fairness in the election process by capping his campaign
spending and seeking public financing.”
The steps to qualify for the presidential public financing program, a matching funds system, are that you must collect $5,000 in at least 20 states in contributions of less that $250. Candidates then receive a match on donations up the $250, and must stay within a $50 million spending limit.