Lower Contribution Limits Do Not Favor Wealthy Candidates

Michael Waldman and I have an op-ed about campaign finance reform in this morning's Newsday. We argue against the misleading assertion that lower contribution limits only benefit wealthy candidates. In fact, carefully crafted reforms would force candidates to widen their fundraising nets and bring more people with diverse backgrounds into the political process.

Here's a taste:

When longtime incumbents, especially conservatives, suddenly start sounding like William Jennings Bryan, watch your wallet. Fear of millionaires is not an argument against reform; it's an excuse.

As long as we allow private money to be contributed, prudent contribution limits are important. They make it harder for wealthy interests with legislative goals to influence policy through big gifts. They force candidates to widen their fundraising nets, bringing more people with diverse backgrounds into the political process. Our sitting legislators may not like competition, but they are not entitled to the almost 100 percent re-election rates that incumbents in New York currently enjoy.