Cash is beginning to flow into campaign war chests as labor and business interests prepare for an all-out brawl over a ballot measure that will ask Californians whether employee payroll deductions should fund political action committees.
Stop Special Interest Money Now has recieved $460,000 in donations since Jan. 1 to support the measure, according to California Secretary of State filings (embedded after the jump). Of that, $200,000 came from Californians Against Special Interests. That group, in turn, is backed with money from Charles T. Munger Jr. and others. Munger is a son of Charles Munger, the billionaire vice-chairman of Berkshire Hathaway.
Meawhile, SEIU Local 1000 gave a quarter-million dollars to the anti-initiative Alliance for a Better California 2012, No on Paycheck Deception on Mar. 20, state records (also embedded below) show.
The two sides are piling up money for a looming multimillion-dollar battle over the "Stop Special Interest Money Now Act."
While the measure would ban both unions and corporations from contributing directly to candidates, both could still fund independent expenditure campaigns to support candidates.
But the measure is seen as especially hard on unions, because it eliminates their primary method of raising money -- payroll deductions. Corporations, by contrast, raise the bulk of their campaign money from top executives and shareholders.
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