Angelides Endorses Clean Money Initiative

SACRAMENTO, CA - California State Treasurer and Democratic nominee for Governor Phil Angelides today endorsed the Clean Money Initiative, Proposition 89 on the November ballot.

"I am proud to join the ranks of California Nurses Association, The League of Women Voters, California Common Cause and so many others in supporting Proposition 89 - the Clean Money Initiative," said Angelides who was joined by California Nurses Association President Deborah Burger and Assemblywoman
Loni Hancock. "It is time for the people of California to clean up the influence of money in our government. Our government should answer to the voices of Californians, not corporate special interests."

Modeled after successful laws now in place in Arizona, Maine and other jurisdictions, Proposition 89 would provide public financing to candidates who:

• Reject private fundraising (except for a small amount of seed money) and agree to limit spending to the amount provided by the public;
• Demonstrate broad-based public support by gathering a set number of signatures and $5 qualifying donations (from 750 - $5 contributions for an Assembly candidate to 25,000 - $5 contributions for a candidate for Governor); and
• Participate in at least one primary and two general election debates.

Nearly three years ago in his campaign for Governor, Arnold Schwarzenegger said, "I will go to Sacramento and I will clean house. I don't have to take money from anybody. I have plenty of money." However, as Governor, Schwarzenegger has accepted more than $94 million in campaign contributions.

"The special interests - big oil companies, drug companies, insurance companies, HMOs - spend millions of dollars hoping to earn special favors like tax breaks and corporate tax loopholes," Angelides added. "It has become a dialing-for-dollars democracy, with the unjust influence of these special interests silencing the voices of Californians. The people of California deserve a state government worthy of their trust, one that hears the voices and attends to the needs of hard-working families, not the special interests."

Angelides has supported campaign finance reform in the past, including Assembly Bill 583, the California Clean Money and Fair Elections Act, authored by Assemblymember Loni Hancock.