Intro. 1130-A, co-sponsored by Council Members Kallos, Brad Lander and Fernando Cabrera, would increase that public funds payment to a full match against the spending limit, minus the amount of matchable contributions raised by the candidate. Effectively, a Council candidate who raises $26,000 could receive a maximum of $156,000 in public funds, for a total budget of $182,000 (in the primary and/or in the general).
If passed by the Council and signed by the Mayor, as written the bill would go into effect in 2018, after this year’s municipal elections.
The current system, says Kallos,, creates a “big money gap” of more than one-third of the spending limit, that would need to be filled through private contributions. For a City Council race, this gap is $65,000 while for mayoral candidates, it is about $2.5 million. “If it works, anyone could run for office entirely on small dollars,” Kallos said in his opening statement at Thursday’s hearing. “If it doesn’t work, candidates could still continue to pursue big money and there would be no added cost. There is literally no downside.”
The hearing drew a large audience outside of the usual good government advocates, including tenant and community preservation groups, immigrant advocacy organizations, NYCHA residents, current City Council candidates, and women’s groups. “This is because no matter what your cause, the road to victory starts with campaign finance reforms that amplify the voices of residents over special interests,” Kallos said.