Proponents of a new public campaign finance system for state offices in New York say Governor Kathy Hochul should veto a bill passed by the state legislature that they say severely weakens the law.
The six to one public matching fund system first takes effect in the 2024 election cycle.
Joanna Zdadys ,with NYU’s Brennan Center, warns that a measure approved in the democratic- led state Senate and Assembly earlier this year would subvert that system and cost taxpayers extra money.
“The Brennan Center and many others are opposed to this bill and are calling for Governor Hochul to veto it,” Zdadys said.
Numerous reform groups in 2019 successfully pressed for the legislation establishing the public matching funds system. The public monies to augment donations of $250 or less was aimed at empowering small donors over deep pocket interests.
But the bill, approved in June, changes that. Instead of limiting the donations qualifying for matching funds to $250 or less, the new standards would be the current maximum donation of $18,000. While the full amount would not receive the six to one public matching funds, the first $250 of the larger donations would be matched with public monies.
“This bill runs counter to the spirit of the law,” Zdadys said. “The law, as it was originally enacted, was intended to amplify the voices of everyday donors, not those of major contributors who already have such an outsized say in New York state politics.”
The bill was controversial when it was approved last June. It was narrowly adopted in the State Senate, with two of the public campaign finance law’s original co sponsors voting no.
Governor Kathy Hochul does not normally signal in advance whether she will sign or veto a piece of legislation.
But she did say last summer, shortly after the measure was approved that she had not been involved in the efforts to change the maximum donation limits, and that she and her legal advisors will be looking closely at the bill.
“I need to look at each one very carefully, and make sure that there are no unintended consequences to anything we do,” Hochul said. “That’s going to be one of my highest priorities.”
Zdadys, with the Brennan Center says 150 candidates, from both major political parties, have already signed on to the program for the 2024 election cycle.
