The New York Times editorializes about its story last week, which showed that New York's very relaxed campaign finance laws are even worse than they might appear at first glance.
Using LLCs, wealthy individuals can evade New York's already laughable campaign finance limits ($50,100 compared to the Federal Governments $2100), and provide candidates with hundreds of thousands of dollars. The Times echoes our annoyance that, when they get into office, New York's politicians just don't seem to have the will to wean themselves from this trough:
It is deeply frustrating to watch New York’s politicians routinely proclaim how eager they are to reform campaign financing even as they rake in the money. Of course they never manage to clean things up. Gov. George Pataki, for instance, has been promising campaign finance reform since 1998. As things stand now, it is highly unlikely that this will be part of his legacy when his 12 years in office come to close in December.
Categories: General, Campaign Finance