Green Party NY wants to end ‘LLC loophole’ for $150,000 political donations

Green Party Watch » Blog Archive » Green Party of New York State calls for end to ‘LLC loophole’ allowing $150,000 political donations – America’s #1 Source for Green Party News & Views.

http://www.chambercoalition.org/images/Brian%20jones%20CANDIDATE%20FOR%20LT%20GOVERNOR%202014.jpgAlbany – The New York State Green Party said today that the Commissioners of the New York State Board of Elections should move immediately to close the infamous “LLC Loophole” that allows limited liability corporations to skirt corporate campaign finance laws and donate $150,000 a year to candidates. The Green Party pointed out that the Board of Elections can choose to reclassify LLCs as corporations for campaign finance purposes without approval from the Legislature or Governor Cuomo, putting a $5000 cap on donations. Green Party representatives said that while this would be an important reform, only full public campaign financing at all levels will eliminate New York State’s pay-to-play politics.

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