Voters have developed a strong sense of cynicism in relation to the money which pervades political campaigns. This cynicism is translated into apathy by a large portion of the electorate. Apathy by voters is a sure way to kill the legitimacy of a democracy. If passed, Proposition B would reduce public cynicism and help restore integrity to the political system. Money talks in politics, and big money can be heard loud and clear by political candidates. Even those candidates committed to preventing this sort of influence are injured by the perception of the electorate of a conflict of interest when their elected officials receive large contributions from special interests.

Funding would come from restoration of a portion (1/100th of 1 percent) of the corporate franchise tax which was reduced 33 percent this past session. The largest 6 percent of Missouri corporations would be affected. Many of these corporations are the biggest contributors in the current system. It is expected that the Fair Elections Act will cost about $13 million each election.

The approach under Proposition B is voluntary, and citizens have the right to spend independently as they see fit on issues and candidates. Candidates who choose not to participate may continue to raise private money for their campaigns and must comply with existing campaign finance laws and increased disclosure requirements. The Fair Elections Act is consistent with recent Supreme Court rulings.

The Fair Elections Act would improve government by permitting elected officeholders to spend their time governing instead of raising money. Passage of Proposition B would result in fairer elections in our state, and signal Washington that campaign finance reform is a critical priority.