Baraka seeks matching funds in first submission

Newark Mayor Ras Baraka has submitted $1.5 million to the New Jersey Election Law Enforcement and could receive $2.63 million in matching funds under the state’s gubernatorial public financing program.

This is Baraka’s first submission, so a $185,000 deductible is taken off the top that is not eligible for the $2 for every $1 raised match.

Candidates in the primary may qualify for up to $5.5 million in matching funds and agree to an $8.7 million cap on primary campaign expenditures. Whichever two candidates make it to the general election will be subject to higher caps: $12.5 million in matching funds and $18.5 million in expenditures.

So far, ELEC has distributed nearly $23.2 million in matching funds – the most in their history: Jack Ciattarelli, $5,188,666; Josh Gottheimer, $4,186,526; Steve Sweeney, $3,745,577; Mikie Sherrill, $3,719,485; Steve Fulop, $3,681,247; and Jon Bramnick, $2,661,201.

Bill Spadea, Ed Durr and Sean Spiller have not yet applied for matching funds.