An attorney for Steve Fulop’s campaign told the New Jersey Election Law Enforcement Commission that they want a $20 million cap on what candidates may spend to win a gubernatorial primary next year.
The spending limit for candidates who qualify for matching funds was $7.3 million in 2021.
“Raising the expenditure limit to that amount will reduce the need for outside groups to weigh in, which will make our campaigns more transparent,” said Scott Salmon, counsel to the Fulop campaign.
Salmon has asked ELEC to seek input from candidates before setting contribution and spending limits before voting for any proposed plan at their meeting next week.
“New Jersey’s Gubernatorial Public Financing program is a truly excellent way of leveling the playing field between candidates as well as reducing our dependence on super PACs and other sources of dark money funds,” said Salmon. “That said, we also believe it is important for there to be a dialogue between ELEC and the candidates running for office before the numbers are actually set.”
ELEC, which matches nearly every $1 raised with an extra $2 in public financing, is set to consider approval of the New Jersey Campaign Cost Index on June 18. That would include contribution and spending limits for the 2025 primary and general elections.
In a letter to ELEC Chair Thomas Prol, Salmon noted that campaigns have become hugely expensive, with costs of reaching voters skyrocketing.
“Aside from significant inflation, which is more than twice as high as it was during the previous cycle, the media landscape has changed,” Salmon explained. “Connected TV is more important than ever, and so the advertising buying metrics are different than in previous years—95% of families in the United States have at least one streaming service2—which has rendered the NJCCI formula antiquated.
He noted that “social media and text messaging have become significantly more important aspects of campaign strategy beyond traditional cable, network, and mail strategies.”
“We believe that we, along with the other gubernatorial campaigns, have a perspective to offer on the situation that is not captured by the NJCCI, and so we respectfully request an opportunity to discuss it with you and ELEC prior to the issuance of the new numbers for the upcoming cycle,” said Salmon.
Fulop, the three-term mayor of Jersey City, is the first gubernatorial candidate to weight in on public financing. He has already raised enough to qualify for a full match based on 2021 guidelines.
In 2020, the commission approved an increase in maximum campaign contributions from $4,300 in 2017 to $4,900 in 2021, a 14% increase.
In the last governor’s race, the threshold to qualify for matching funds went from $430,000 to $490,000. The unmatched deductible went from $138,000 to $156,000.
For candidates accepting matching funds, the spending cap for the gubernatorial primary increased from $6.4 million in 2017 to $7.3 million in 2021; the maximum matching funds went from $4 million in 2017 to $4.6 million four years later.
For the general election, candidates could receive $9.3 million in matching funds in 2017 and $10.5 million in 2021. The spending cap increased from $13.8 million in 2017 to $15.6 million in 2021.
Also included in the NJCCI are adjusted reporting thresholds for political committees, and contribution limits from individuals, corporations, associations, candidate committees, political committees, and national political parties.