Supporters of November’s budget-reform measures pulled in $1 million in campaign contributions last month, eight times the total raised so far by opponents.
The big money, which brings to more than $2 million the total raised by the proponents since April, is in line with predictions that the ballot fight could be one of the costliest in Colorado history.
At issue is a provision of the Taxpayer’s Bill of Rights that requires the state to refund money to taxpayers if revenues exceed a certain limit. November’s Referendum C asks voters to let the state keep an estimated $3.6 billion that would otherwise be refunded over five years. Referendum D would authorize about $2.1 billion in loans for transportation projects.
“The expectations for the Referendums C and D proponents have always been high as far as fundraising,” said political analyst Eric Anderson. “It always takes less money to kill a ballot issue than it does to pass one. You’d always hope that the proponents would always be able to outspend the opponents.”
Opponents of the ballot measures raised about $125,000 last month, their first significant fundraising period.
Jon Caldara’s group – Vote No; It’s Your Dough – raised about $105,000, $100,000 of which came from Edward Mc Vaney, former chairman of the software company J.D. Edwards, according to campaign finance reports. McVaney sits on the campaign’s fundraising committee, Caldara said.
Last month, a new opposition group formed, the Colorado Club for Growth – Issue Committee. The organization’s treasurer, Greg Gandy, said it will report about $20,000 in contributions by Wednesday’s filing deadline. All the donations were from the Colorado Club for Growth political committee, he said.
Vote Yes on C&D, meanwhile, saw some big checks in the June 26 to July 26 filing period. Centura Health gave $195,000. The American Federation of State, County and Municipal Employees gave $100,000. The Colorado Education Association gave $200,000. And the Denver Metro Chamber of Commerce gave $250,000.
With fundraising in full swing, both sides are accusing the other of hiding the sources of their money.
Supporters complain that Caldara’s nonprofit Independence Institute, which has been running radio ads describing the proposal as a massive tax hike, is violating the law by not registering as an issue committee.
Caldara says his group doesn’t have to file because its mission is educational, not political.
He claims Vote Yes on C&D is hiding its contributors by including their money in the Denver Metro Chamber of Commerce’s large contributions.
Don Bain, a member of the chamber’s board of directors, denied any trickery. He said almost all of the money the chamber has donated comes from an economic-development fund created long before C and D were proposed.
Staff writer Jim Hughes contributed to this report.
Staff writer Chris Frates can be reached at 303-820-1633 or cfrates@denverpost.com.
