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House Approves Repealing Public Financing of Presidential Campaigns

The House voted 239 to 160 for a bill that would repeal public financing of presidential campaigns.

If it became law, it would open the door to even more campaign money for broadcast and cable outlets.

"Today's vote is a win for common sense, as supporters of this political pyramid scheme could offer no compelling reason to continue wasting taxpayers' dollars," said Center for Competitive Politics President Sean Parnell. "Hopefully, the Senate will follow up with a vote to end these unnecessary subsidies for would-be presidents."

But that hope is unikely to bear fruit. The measuer has a slim to none chance of being passed in the Democrtic-controlled Senate or signed by a Democratic President. According to the Center, Republican Senator Mitch McConnell introduced a similar bill there not long after the House vote. But Majority Leader Harry Reid has already signaled he will block the House bill, according to the Center.

Public funding is only an option (that check box on tax retgurns), and one which many candidates, including President Obama, have elected not to take since it limits their spending.

Many Republican legislative efforts, from blocking the healthcare bill to invalidating the FCC network neutrality regs, are expected to be proposed and pass in the House, only to be disposed of in the Senate by the other side.