Democratic presidential candidate John Edwards says he will now use public campaign financing.
The former North Carolina senator claimed higher moral ground in
the debate over money in politics while announcing the change. But
he once rejected the system with the belief he could raise more
money on his own.
Money for the public financing system comes from a fund paid for
by taxpayers who agree to set aside $3 from their income taxes for
the presidential account. Taking money from the fund means the
candidate must comply with spending limits.
Edwards could get up to $21 million in public money for the
primary, but his overall spending on the primary elections could
not exceed about $50 million.