Voltage drops over distance and your lights are sensitive to this so be careful, fires suck
http://www.nooutage.com/vdrop.htm
this will tell you what you need.
what you need to be concerned with is amps, not volts.
Where it really counts is in building code.
Wiseguy were talking about the same thing but electrical guys say voltage drop, if the voltage drops so do your amps. But it's amps that kill you not voltage.
Anyway you cut it thicker is better.
Here's a wire site that talks about some interesting aspects of not using the right wire and has a chart with wire size and voltage/amp drop....
http://www.alanwire.com/tech/voltage.html