Campaign Spending Tops $50 Million Dollar Mark As Clean Money Initiative Is Filed In Sacramento Washington, DC -- With campaign spending on California’s gubernatorial recall race reaching $50 million, much of it flowing from the entertainment, real estate, gambling, and high tech industries, as well as labor, Public Campaign Action Fund executive director Nick Nyhart points out that there was never a better illustration of why Clean Money campaign finance reform is needed in California – and for the nation. Nyhart also commended candidate Arianna Huffington for introducing an initiative to bring Clean Money campaign finance reform to California and to Cruz Bustamante and Peter Camejo for endorsing public financing of elections. “Wealthy campaign donors are trying to buy this governor’s race, plain and simple,” said Nyhart. “They’re not giving this cash for altruistic reasons. They’re going to want something in return for their support – an amendment here, a piece of legislation there. “Faced with one of the most complicated ballots in U.S. history, not to mention one of the longest lists of candidates, voters are getting the most information about the candidates who raised the most cash, particularly Arnold Schwarzenegger and Cruz Bustamante. “There is a better way, one that would help restore fairness and equality to the election system in California—and candidate Arianna Huffington is taking action. This week she filed an initiative for Clean Money, Clean Elections campaign finance reform for California. We are urging all candidates to support publically financed elections. “Under the Clean Money, Clean Elections approach, already law in five states—Arizona, Maine, North Carolina, New Mexico, and Vermont—candidates who agree to abide by strict spending limits and to raise no private money qualify for a grant of public funds for their campaigns. Clean Money elections would bring real change to California—and could be yet another working example to better our federal campaign finance laws as well.”