Amendment 2 seeks to limit campaign contributions

In less than a week, Missouri residents will vote on how political candidates get money for future elections.

If passed, Amendment 2 would limit campaign contributions to candidates for state and judicial offices.

In 1994, 74 percent of Missouri voters approved a proposition to limit campaign contributions.

But in 2008, the state legislature and governor repealed the proposition.

If Amendment 2 is passed next week, lawmakers cannot go back on it since it is an amendment instead of a proposition.

Thursday, ABC 17 News looked into how the proposed limits would affect campaign finances of Missouri governor candidates Chris Koster and Eric Greitens.

First, individuals would not be able to give more than $2,600 to a candidate, unless it was the candidate himself or herself.

In just the last month, that would disqualify more than $1.9 million in donations to republican candidate Greitens, according to reported campaign finance filings to the Missouri Ethics Commission.

Democratic candidate Koster would lose out on about $400,000 in donations from individual donors over the same time period.

Second, the proposed amendment would cap contributions to a political party to $25,000.

Third, corporations and labor unions would be banned from making direct contributions.

Amendment 2 would also ban committees and political parties from taking contributions from non-citizens, foreign governments, and foreign corporations that are not allowed to do business in the state.

Only donations under $25 would stay anonymous.

Supporters of Amendment 2, including Koster and Gov. Nixon, said the measure would improve transparency and ethics laws in the state, according to Ballotpedia.

Those who oppose, including Greitens, said it favors career politicans and rich self-funding candidates.

Amendment 2 is estimated to increase state government costs by at least $118,000 a year.