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Cuomo dares legislature to close LLC loopholes

May 26, 2016 12:02 am
Casey Seiler in The Albany Times-Union reports that Gov. Andrew Cuomo made something of a political stunt May 24. At the end of the legislative session without any ethics action, but with the recent prison sentencing of the former leaders of the Assembly and Senate, Cuomo proposed eight bills that would, in varying degrees, close the so-called LLC loophole, which lets limited liability companies make far larger political donations then individuals or corporations. "The point I'm trying to make is, I propose closing the LLC loophole for everyone — every elected office, Republican Party, Democratic Party," Cuomo said, while taking questions from reporters outside his office. " ... I've proposed it before, it's gone nowhere. So now I'm saying, 'OK — any of the above.' ... If you're unwilling to do it for yourself, do it just for me." Senate Republican leader John Flanagan, who is the majority leader even though there are more Democrats in the Senate, said in a statement that the governor's proposal, "fails to fundamentally address the root cause of the problems that exist within our campaign finance system, most notably a lack of enforcement, a lack of transparency, and a lack of full and honest disclosure." Read the full story in The Albany Times-Union.
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