Contra Costa Times (California)
Those who bankroll election campaigns — individuals, corporations and unions — would be up against new limits under the Clean Money Initiative, Proposition 89.
It would place limits on contributions to state legislative candidates, independent expenditure committees and political parties. It would also restrict donations to ballot initiatives, though political action committees could still give unlimited amounts.
The measure would also assess a small increase in corporate taxes to fund a public financing system at an estimated cost of $200 million a year.
Proponents say a public financing system would free elected officials to pursue the needs of regular Californians rather than big business or labor benefactors, and also allow elected officials to spend less time fund-raising.
Opponents say the measure would unfairly stifle the voices of corporations and unions and provide a platform for “fringe” candidates.
Wealthy candidates could still self-fund their races, but the measure provides “clean money” to candidates who reject contributions from big money donors and collect a minimum amount of $5 contributions (gubernatorial candidates would have to collect 25,000 $5 contributions; Assembly candidates, 750 $5 contributions).
Publicly funded candidates would receive a baseline amount based on the office they seek. A gubernatorial candidate, for instance, would receive up to $10 million in a primary, and $15 million in a general election.
If, however, a publicly funded candidate is outraised by a candidate who is either self-funded or raises money from large donations, the publicly funded candidate could receive matching funds — up to four times the base amount.
WHAT IT WOULD DO: Create limits on political contributions, impose a corporate tax to create a fund for publicly financed campaigns, and provide matching funds against self-funded candidates — up to $60 million for gubernatorial candidates. Would require disclosure requirements to identify which candidates voluntarily reject private contributions, as well as rapid public reporting of contributions to nonparticipating candidates.
VOTES TO PASS: Majority
SUPPORTERS: California Nurses Association, California Common Cause, League of Women Voters, Foundation for Taxpayers & Consumer Rights, California Teamsters, Consumer Federation of California, SEIU California State Council, U.S. Sen. Barbara Boxer, U.S. Rep. Nancy Pelosi, state Treasurer Phil Angelides.
OPPONENTS: California Chamber of Commerce, California State Council of Laborers, California Teachers Association, California Farm Bureau Federation, California Republican Party, California Business Roundtable, Howard Jarvis Taxpayers Association, Assembly Speaker Fabian Nunez.
