Sat, Oct 11 2008
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Published July 12, 2008 07:33 pm - Gentlemen, start your engines. The race for candidates to take in millions upon millions will begin on Aug. 28. Gov. Matt Blunt on Friday signed legislation that removes campaign contribution limits for Missouri politicians. Joe Hadsall: Contribution law adds transparency, but is it enough? By Joe Hadsall Globe columnist Gentlemen, start your engines. The race for candidates to take in millions upon millions will begin on Aug. 28. Gov. Matt Blunt on Friday signed legislation that removes campaign contribution limits for Missouri politicians. (In a column from May 18, I wrote that the House approved an emergency clause, which would have made the bill effective upon the governor’s signature. The Senate struck down that provision.) The law, established by voters about 14 years ago, limited the amount of money that a single entity could give. But creative, enterprising individuals have found loopholes to those limits. We’ve talked plenty about Rex Sinquefield, the billionaire and retired financial analyst who created 100 political action committees to get hundreds of thousands into legislators’ hands. He was joined in spirit by Sen. Chris Koster, the newly christened Democrat candidate for attorney general. Earlier this week, news broke that he allegedly laundered almost $475,000 into his campaign war chest. A former campaign staff member said 55 transactions through 42 political party fund-raising committees were conducted. A complaint against Koster, dealing with the fund raising, was filed last month with the Missouri Ethics Commission. Koster defends the tactics, saying that such fund raising through committees is allowed under the current law. He conducted the transactions with the guidance of the MEC, he said. To a point, he’s right. A component of Missouri’s law allows political party committees to donate amounts significantly more than the limits. Blunt mentioned Koster when signing the law, saying that his situation “undermines the confidence in the process,” according to The Associated Press. He signed the law because the process needs to be more transparent. That logic goes like this: If a state has limits, someone is going to find a loophole and exploit it. Therefore, the removal of limits removes the possibility of breaking the law. Candidates should be able to take what they want from whomever and answer to voters. The law Blunt signed, Senate Bill No. 1038, does add transparency: n Any contribution of $5,000 or more must be reported electronically within 48 hours of receipt. n District committees may retain only one address within the district for receiving contributions. 
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