It seems hardly sporting of the City Council to approve public financing of campaigns when Professor Bogdanski is out of town. (Some history is here and the new code sections are here.)
The wrinkle of the plan that I find most interesting is on pages 23 and 24 of the new ordinance, in sections 2.1.150.D and E. These provisions allow a qualifying candidate (one who accepts public financing and the campaign limits) to get additional money from the public fisc if opposed by a non-qualifying candidate who out-raises or outspends the qualifying candidate.
For example, a qualifying candidate for mayor can get up to $250,000 from the City for the general election. If the qualifying candidate faces a non-qualifying candidate who raises or spends more than $250,000 in the general election, then the qualifying candidate can get up to another $500,000 (200% of the base amount) for the general election to match the non-qualifying candidate.
Let's say that in 2008 the mayoral primary narrows the race to a good-government candidate and a candidate of vested interests. Good Government raises a fistful of $5 and $100 contributions, qualifies for public financing, and receives $250,000 for the general election. The Vested Interest disdains public financing and raises $750,000 at a quiet dinner at the Mausoleum Club. As I read the ordinance, the City then pays Good Government $500,000 in additional campaign funds.
Put another way, the Vested Interest gets stuck raising money for both sides: each dollar to the Vested Interest beyond a certain point produces a matching dollar to the Good Government candidate.
What's the result? As the big-dollar contributions come mainly from large employers and downtown real estate owners, I think it means that an incumbent who ticks off the business community enough to cause them to support a challenger gets to piggyback on the business candidate's financing: if the Vested Interest candidate raises $750,000 from the people who don't like City Hall, the City Hall candidate gets up to $500,000 in additional manna from the sky. Tim Boyle's going to be paying for both sides.
UPDATE: A lively debate is going on over this topic at Portland Communique. One theme is whether the City and its residents will get value for the $1.2 million or so that the measure is estimated to cost. Another is whether, by allocating this money to fund campaigns, the City Council will make it harder for the City to raise money: will taxpayers say that if the City can spend more than $1 million funding campaigns, it must not have any truly pressing financial needs?
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