Even elitist Republican Speaker G. Mark Mickelson admits that the initiative and referendum process is “very cool.” It certainly was cool in 2016, when it helped South Dakota consumer advocate David beat payday-loan Goliath and pass Initiated Measure 21, the 36% cap on payday lending annual rates.
South Dakotans for Responsible Lending and the national Center for Responsible Lending (the nice out-of-state allies whom Mickelson is trying, weakly, to unconstitutionally ban from helping South Dakotans defend themselves from economic and political predators) have posted this pleasant little documentary of their success here in South Dakota:
The success of IM 21 in 2016 is the perfect example of why we don’t need Mickelson’s IM 24. Payday lenders from Georgia and elsewhere outspent local reformers 19 to 1, but South Dakotans still read IM 21 and did the right thing. Our initiative process and our voters are cool enough that we don’t need Mark Mickelson’s unconstitutional interference.