NYC: Best Government Money Can't Buy

Mayor Bloomberg and the City Council reached a new agreement on the [campaign finance reform bill] yesterday, wich would put an end to companies giving big, fat contributions to candidates for city council, mayor, comptroller and public advocate in exchange for city contracts. “If passed, it will go a long way towards strengthening the integrity of city government and public confidence in it,” said Bloomy. This might be interpreted as bad news by property owners looking for zoning changes and by lobbyists. We all feel real bad for lobbyists, right? In any case, it would certainly be one of the most important overhauls to the city’s public finance system since the [1998 ban on corporate contributions](www.nysun.com/article/55427).

Here’s how it would work: There would be a $250 cap on contributions for council races, $320 for borough races and $400 for citywide contests. There is still no limit on what candidates can spend on their own campaigns, a position upheld by the Supreme Court. Bloomberg certainly makes “[no apologies]” for what he has spent. He advises candidates, “Before you go into office, first go out and become a billionaire—it does make it a lot  easier.” What a good idea, why didn’t I think of that? But he added, “You still have to do a good job. Money isn’t the be all and end all.” Oh good, I was scared for a minute.