The FEC said Tuesday McCain is eligible to receive matching funds.
WASHINGTON (CNN) – In what may prove to be a much-needed boost to John McCain’s struggling White House bid, the Federal Election Commission announced Tuesday that the Arizona senator’s campaign will be eligible to receive federal matching funds.
After reporting dismal fundraising numbers for the first half of the year, McCain was forced to fire much of his staff and completely restructure his presidential campaign.
McCain's campaign said the senator has not decided yet on whether or not he will accept the money.
"We haven't made a final decision yet, but we're doing what’s necessary should we decide to take matching funds," said McCain spokeswoman Brooke Buchanan.
McCain, who trails Republican frontrunners Rudy Giuliani and Mitt Romney in fundraising, applied for public financing on August 10. He is the first presidential candidate to be declared eligible for the funding.
–CNN Associate Producer Lauren Kornreich