New Jersey has given $37.5M in matching funds to governor hopefuls

Yahoo

2 days ago

Four of the candidates hoping to succeed a term-limited Gov. Phil Murphy have capped out their matching primary funds, receiving $5.5 million each. (Illustration by Alex Cochran for New Jersey Monitor)
With less than a week left before the June 10 gubernatorial primaries, the New Jersey Election Law Enforcement Commission has disbursed nearly $37.5 million in public matching dollars to eight of the 11 candidates, the agency said Wednesday.
Four of those hoping to succeed Gov. Phil Murphy — Democrats Jersey City Mayor Steve Fulop, Rep. Josh Gottheimer, and Rep. Mikie Sherrill, plus Republican former Assemblyman Jack Ciattarelli — have capped out their matching primary funds, receiving $5.5 million each.
Democrats Newark Mayor Ras Baraka and ex-state Sen. Steve Sweeney and Republicans Sen. Jon Bramnick and former radio host Bill Spadea have not raised enough to receive the maximum amount of matching primary funds, according to the election law commission.
Of those four, Sweeney has received the most public dollars, just under $5.3 million. Baraka's matching funds total $4.2 million. Bramnick, the only sitting legislator in the race, has received about $3.2 million from the program, while Spadea has gotten roughly $2.8 million.
The gubernatorial public finance program offers candidates who meet fundraising and spending thresholds matching public dollars at a rate of 2-to-1 for every dollar candidates raise. In exchange, gubernatorial hopefuls agree to participate in debates hosted by the election law commission and observe spending limits.
This year, candidates who participate in the program can spend no more than $8.7 million on primaries and up to $18.5 million for the general election.
The amount of matching funds already disbursed this year exceeds all primary spending in 2017, New Jersey's last gubernatorial election with no incumbent seeking reelection.
Then, all candidates across major and minor parties spent just under $34.5 million. Most of that spending came from Murphy, who did not participate in the public financing program during the 2017 primary and spent $22 million, including more than $16 million he loaned to his campaign.
Murphy, who participated in the gubernatorial fund match in 2017's general election and through the entire 2021 cycle, is barred from seeking a third consecutive term.
Three candidates did not qualify for matching funds. Teachers union president Sean Spiller was the only Democrat who did not raise and spend the $580,000 needed to qualify by the March 24 deadline. Spiller's candidacy is getting a major boost from an independent expenditure group with ties to his union that has spent $37.5 million so far urging voters to support Spiller in the primary.
On the Republican side, former Englewood Cliffs Mayor Mario Kranjac and contractor Justin Barbera did not qualify for matching funds.
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