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Squadron pushes Senate colleagues on loophole bill

Apr 19, 2016 12:02 am

Chris Bragg is reporting at Capitol Confidential Democratic state Sen. Daniel Squadron is renewing efforts to push through legislation closing the so-called LLC loophole in state election law, which allows huge political giving by individual donors. In a letter to colleagues, Squadron wrote that if the LLC loophole survives this session, lawmakers will have failed in their promise to clean up and reform Albany. Referencing the Sheldon Silver and Dean Skelos' corruption cases, Squadron wrote, “Last year’s corruption trials of both former leaders of the Legislature highlighted the way in which anonymous corporate dollars drown out the voice of everyday New Yorkers in the political process,” A lawsuit to close the loophole is likely to go forward on appeal. The loophole was created by a 1996 state Board of Elections decision and allows each limited liability company owned by a single person to give up to $150,000 annually in state-level elections. Last session, Squadron pushed the same bill, but it was buried by the Senate Republicans. Read the full story at Capitol Confidential.

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