Treasury transfers $12.6 million to Buchanan

WASHINGTON (Reuters) - The Federal Election Commission gave final approval Thursday to the release of $12.6 million to presidential candidate Pat Buchanan and the Treasury Department quickly transferred the money to the Reform Party nominee's campaign.

"The commissioners made their final determination today and sent certification to Treasury. They will probably release the money very quickly," an FEC spokesman said.

The Buchanan campaign later confirmed it had received the money Thursday afternoon.

Buchanan, a former Republican, heads the Reform Party founded by Texas billionaire Ross Perot. The party won the right to the federal money for the 2000 presidential election when Perot received more than 5 percent of the popular vote in the 1996 election.

However, Buchanan's position as head of the party is being challenged by Perot loyalists, who back a different candidate -- former nuclear physicist John Hagelin. The Hagelin faction is challenging the FEC decision in the courts.

An acrimonious split last month during the party's national convention left both candidates claiming the nomination, setting the stage for weeks of bitterness and legal challenges.

Buchanan is running on a platform opposing free trade agreements, stemming illegal immigration and ending abortion. He is currently standing at around 1 percent in public opinion polls and has been sidelined for a month recuperating from double gall-bladder surgery.

Looking gaunt from weight loss, the former television commentator returned to political activity this week.

Hagelin has 15 days to appeal, but the money is likely to be long gone by then. The Buchanan campaign has said it will spend the money on TV and radio advertisements.

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