“This legislation expands the new campaign finance laws overwhelmingly adopted by 80% of the voters on November 6, 2018, from only matching 75% of contributions to matching all of them at 89.89% so that the voices of everyday working New Yorkers are amplified over that of big money and lobbyists,” Kallos said in an emailed statement to Gotham Gazette, referring to a successful ballot referendum that passed last year to increase matching funds and reduce individual donation limits.
The matching system encourages candidates to seek small-dollar contributions and, as a result, reach out to more constituents, rather than soliciting large contributions from the city’s wealthiest political donors who often have or want city business or favors.
Supporters say it reduces the risk of corruption and contributes to the diversity of candidates. Through a series of public referenda and legislation since it was established in 1988, the public match has been expanded along with limits on the types of contributions participating candidates can receive and the amounts they can spend. The most recent changes to the program came out of the referendum to revise the City Charter last November.
There is currently a cap on the amount of public funds a participant in the city’s program, administered by the Campaign Finance Board, can receive. Caps are set at a percentage of the total spending limit for the different offices, forcing candidates to rely on a mix of public and private dollars, which the CFB believes has important benefits. To the board, striking the right balance with sensitivity to the shifting demands of campaigning in New York is key to the program’s success.