Tuesday, August 7, 2012
A new analysis shows that campaign committees already are spending millions of dollars on propositions for California’s November’s ballot.
The analysis, by the Fair Political Practices Commission, shows by the end of June, committees had raised more than $84 million to fight or support the 11 ballot measures. The Commission’s report looked at donors who gave $10,000 or more.
While the state limits what an individual donor can give state candidates, there are no limits on the amount of money committees can contribute to ballot measures. The largest donors for the Governor’s tax initiative include a coalition of educators and unions. Labor union committees have also contributed the most to fight Proposition 32, which would limit labor unions’ political fundraising.
But by far the largest committee contribution is the campaign for Proposition 39, which would close a tax exemption on out-of-state businesses. Bay Area venture capitalist Tom Steyer and his committee have contributed 22 million dollars to support the measure.