September 13, 2007 07:07 PM UTC

Tancredo Gets Matching Funds

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• by: Colorado Pols

From The Denver Post:

Tom Tancredo’s presidential quest qualified for federal matching funds Wednesday, a boost his campaign said will keep it alive awhile longer…

Tancredo, a Littleton Republican known for his criticism of U.S. immigration policies, now will get a dollar-for-dollar match up to the first $250 of every contribution he’s received this year…

In paperwork filed June 30 with the Federal Election Commission, Tancredo had raised $2.8 million and had about $556,000 on hand. Qualifying for matching funds means Tancredo’s campaign can get a bank loan for about $2.5 million, Buchanan said. That loan is paid back with the matching funds, which will come beginning next year…

…To qualify for matching funds, candidates must raise at least $100,000 by collecting $5,000 in 20 different states, in amounts no greater than $250 from any individual.

Tancredo raised about $176,000 through 3,082 contributions from 25 states.

So far, only Tancredo and Sen. John McCain, R-Ariz., have qualified for and decided to take the matching funds, the FEC said. Most of the top-tier candidates have opted out of the system because it requires them to spend less than about $50 million.

But the news isn’t all good for Tancredo. The Republican congressman has repeatedly called for the U.S. to deport all illegal immigrants, which it turns out, would be pretty expensive. The department of Immigrations and Customs Enforcement estimates that it would cost $94 billion to deport every illegal immigrant in the U.S.