California General Election - Official Voter Information Guide
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BALLOT MEASURE SUMMARY 


PROP 89

Political Campaigns. Public Financing.
Corporate Tax Increase. Campaign Contribution
and Expenditure Limits. Initiative Statute.

SUMMARY            Put on the Ballot by Petition Signatures
Provides that eligible candidates for state elective office may receive public campaign funding. Increases tax on corporations and financial institutions by 0.2 percent to fund program. Imposes new campaign contribution/expenditure limits. Fiscal Impact: Increased revenues (primarily from increased taxes on corporations and financial institutions) totaling more than $200 million annually to pay for the public financing of political campaigns.


WHAT YOUR VOTE MEANS
YES
A YES vote on this measure means: Candidates for state offices could choose to receive public funds to pay for the costs of campaigns if they meet certain requirements. Candidates not accepting public funds would be subject to lower contribution limits than currently. The tax rate on corporations and financial institutions would be increased to pay for the public financing of political campaigns.

NO
A NO vote on this measure means: Candidates for state offices would continue to pay for their campaigns with private funds subject to current contribution limits. The tax rate on corporations and financial institutions would not change.


ARGUMENTS
PRO
Proposition 89 will curb corruption in Sacramento and reduce the power of special interests and lobbyists over our government. It will level the playing field and assure that elections are about ideas, not money. It will enable everyday people, like teachers, nurses and firefighters, to run for public office.

CON
Proposition 89 is phoney reform. Prop. 89 increases taxes for politicians to finance their political campaigns and negative ads. The special interests behind 89 wrote it to give themselves an unfair advantage, limiting the voice of small businesses and nonprofits and damaging consumers. It’s too complicated and unworkable. Vote No on 89.


FOR ADDITIONAL INFORMATION
FOR
Michael Lighty
Californians for Clean
 Elections, Yes on 89
2000 Franklin Street
Oakland, CA 94612
(800) 440-6877
info@yeson89.org
www.yeson89.org
AGAINST
Californians to Stop 89
1415 L Street, Suite 1250
Sacramento, CA 95814
(916) 708-7824
info@noprop89.org
www.noprop89.org



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