Assemblymember Ron Kim in Queens is taking advantage of New York’s new public matching program for state elections, collecting small amounts of cash from district residents that can be matched by as much as $12 in public financing for every dollar donated. However, Kim is facing tough competition in the form of potential challenger Yi Andy Chen, who has submitted donations totaling $150,000 with the public match and has outstripped Kim in larger donations that cannot be matched. Chen has reported over a hundred donations of $1,000 and up, giving him a significant financial advantage over Kim.
The new campaign finance system in New York has been designed without a spending limit, allowing candidates like Chen to benefit from small-dollar matching and big-donor spending simultaneously. Critics, including Assemblymember Robert Carroll and candidate Micah Lasher, believe that the absence of a spending limit is a flaw in the system that needs to be addressed. Lasher, who has raised enough in-district small donations to unlock the maximum $175,000 in public matching funds, is one of the first candidates in the state to do so.
Despite the financial advantages that the new system provides, concerns have been raised about the potential for abuse and the lack of spending limits. The state’s public finance campaign is getting underway as the city’s program faces scrutiny following corruption scandals. While proponents argue that the system levels the playing field for candidates without big donors, critics believe that more meaningful limits to contributions and spending are necessary to ensure fairness in elections.
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