A package of bills to tighten the city’s campaign finance rules is set to be introduced in the City Council this week.
The legislation would bar more people from giving big bucks to candidates because they do business with the city, and slap more restrictions on fundraising by such donors.
Right now, owners of firms with city business are bound by strict contribution limits - but their parent companies and those companies’ execs aren’t covered. That means real estate titans who hide their business in multiple LLCs can get out of the rules.
People with city business can only give $400 for mayor and other citywide offices - compared to $4,950 for other donors. Under the new rules, when one business owns a chunk of another business that deals with the city, the parent company’s officials would have to follow the lower limits.
Another bill would ban candidates from getting taxpayer matching funds for donations raised by fundraisers who do business with the city.
5 comments:
Ban all matching funds!
We just can't afford it!
Ban all matching funds!
We just can't afford it!
How do you expect average citizens then to compete with connected, monied, and incumbent opponents? Reforming the system is a step in the right direction.
How about donations from unions? what would the limits be?
This is just wonderful.
Let the people with the most to gain "fix" the corruption.
This legislation will be just #$%!<ing perfect.
Can you say OBAMACARE, Dodd Frank etc...
As long as the city and state put two big fat thumbs on the scale for every commercial transaction taking place in the city, there will always be a million good reasons to buying politicians to advantage your projects and to disadvantage your competitors.
You want to get money out of politics? Stop empowering the city and state to control everything.
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