C.F.B.: Does Not Apply

Today’s Supreme Court ruling lifting the cap on how much money corporations can spend on behalf of a candidate may not have much of an impact in New York City, where that sort of spending has been banned for years.

A spokesman for the city Campaign Finance Board said:

“While today’s decision may have a critical impact on the next federal elections, it addresses a specific provision of federal law that has no direct parallel in City law. 
 
“The decision addresses independent spending by corporations supporting candidates; it does not disturb the prohibition on direct contributions from corporations to candidates.
 
“New York City’s law prohibits candidates from accepting direct contributions from corporations.  This is true for all candidates—both for those who choose to join the public financing program and for those who do not.
 
“The Court also affirmed the ability of government to require disclosure for independent spending, no matter the source.
 
“The decision draws attention to the need for better, more complete disclosure of political activity in New York City.  We believe the Campaign Finance Act should be expanded to require disclosure of independent spending on behalf of candidates made by corporations and all other outside parties.
 
“As it has for more than 20 years, New York City’s public matching funds program provides candidates with public funds that give small donors a voice to counterbalance the impact of special interest spending.”

 

C.F.B.: Does Not Apply