Buying Political Insurance
But CFP is quick to point out that there is likely more insurance cash than we know, since Texas campaign laws don't require candidates to list the employer or occupation of individual contributors. Nationally, individual donations account for nearly 45% of insurance industry contributions, so the Texas total may in fact be closer to $3 million.
This is only one of many deficiencies in Texas' campaign-finance system, Lewis said. As such, CFP and a host of other groups -- from Houston's Memorial West Republican Women's Club to the state chapter of the NAACP -- have formed the Show Us the Money Coalition, seeking to strengthen state campaign-finance laws. Among their priorities: closing the individual-donor loophole, forcing all candidates to file reports electronically, requiring out-of-state political action committees to file like in-state PACs, and authorizing the Texas Ethics Commission to perform random audits of campaign-finance reports. "In essence, we have a voluntary reporting system," said Lewis. "And voluntary compliance is not the same as enforcement."