I just found this great article by Brian Leubitz discussing the Center for Governmental Studies recent report, Public Campaign Financing in California: A Model Law for 21st Century Reform, (link to pdf of the report) calling for "a modified version of clean money to control the excessive spending and allow for additional competition".
As Clean Money campaign finance reform is one of the Lamorinda Democratic Club's legislative priorities, this is a proposal at which we will want to take a close look. The report says that:
public campaign financing serves five important governmental interests: (1) reducing the negative influence of large contributions on candidates, officeholders and public policy; (2) freeing candidates from the time pressures of fundraising and increasing the time they have to discuss public issues with the voters; (3) empowering candidates to enlarge the public discussions and general awareness of political campaigns; (4) increasing citizen participation in the electoral process; and (5) increasing the number and diversity of political candidates
Our issues and endorsements committee will be taking a close look at this proposal, and you may be hearing more about it in the coming months.