Political parties are the vehicles through which the ideals of multiparty democracy could be achieved in any fledgling democracy. But in Ghana, they are the most neglected of all the political institutions. Consequently they exist merely as “election machines” and become moribund during inter-election periods. The proposal for state funding of political parties was seen as a means of reinvigorating them to be able to function effectively and produce quality leaders capable of tackling the developmental challenges of the country. This paper therefore reviews the Draft Public Funding of Political Parties Bill, 2008. Through a survey of some 210 respondents and government officials, it argues that the quest for public funding of political parties was outmoded at conception because governments are not committed to the proposal, nor do Ghanaians seem to support it. The study concludes on the note that until politicians strive to reduce the perception of corruption against them and encourage their members to support them financially through the payment of monthly dues and special levies, political parties will continue to function as weak election machines in Ghana.