New York City Campaign Finance Board Executive Director Amy Loprest testified before the City Council today on Int. 978-A, which addresses the disclosure of independent expenditures in City elections. She said:
“New York City has a robust campaign finance system, with public funding, reasonable limits on contributions, and—with the Charter amendment—disclosure of independent spending. The rules that make our system strong should not and do not prevent groups from participating fully in public discussions about elections, politics, and policy in New York City.
There are two equally important aims for disclosure of independent expenditures. First, disclosure provides information that helps voters identify who is speaking to them. Second, it empowers voters to hold candidates accountable for their policies and supporters by providing information about the individuals and groups who spend money to aid their campaigns.
Our current rules, as implemented, provide the public with a complete picture of election-related spending. It seems clear that independent expenditures comprise a significant part of election-related spending in City elections. If Int. No. 978-A were enacted, voters would be deprived of information about this spending. For these reasons, and given the Board’s long-standing position on the issue, we oppose the bill.”
Her full statement is available on the CFB website.