HB 2553 - DIGEST

     Declares that it is the purpose of this act to alter the existing system of campaign finance for legislative and gubernatorial campaigns, which system:  (1) Allows elected officials and challengers to accept large campaign contributions from private interests over which they have or may have governmental jurisdiction;

     (2) gives incumbents an unhealthy advantage over challengers;

     (3) hinders many qualified candidates from effectively communicating with voters;

     (4) effectively suppresses the voices and influence of the vast majority of Washington citizens in favor of a small number of wealthy special interests;

     (5) undermines public confidence in the integrity of public officials;

     (6) costs average taxpayers millions of dollars in the form of subsidies and special privileges often provided for large campaign contributors;

     (7) drives up the cost of running for state office, discouraging otherwise qualified candidates who lack personal wealth or access to special-interest funding; and

     (8) requires that elected officials spend too much of their time raising funds rather than representing the public.