Squadron Pushes Hostile Budget Amendment to Close LLC Loophole

NEW YORK – This evening, State Senator Daniel Squadron and the Democratic Conference introduced an amendment (attached) to the Public Protection and General Government state budget bill (S.6405C) to close the LLC Loophole, as proposed by the Governor. The Loophole, wrongly created by a Board of Elections ruling, allows virtually unlimited, often anonymous corporate dollars to drown out the voice of everyday New Yorkers in the political process. Squadron slammed the lack of ethics reforms in the budget on the Senate Floor, and released the following statement in response to the Senate Republican Majority refusing to pass the amendment:

“In a year when Albany should be taking every possible opportunity to regain the trust of New Yorkers, the Senate Republican Majority is giving $154 billion more reasons for distrust. It’s shocking that the Senate Majority not only refuses to pass basic ethics reforms like closing the LLC Loophole, but also refuses to even discuss them. Unfortunately, the lack of ethics reforms in the budget makes abundantly clear that the Senate Majority is hostile to the voice of everyday New Yorkers in the political process.

The LLC Loophole was at the center of corruption trials for former leaders of both houses. This kind of inaction in response to a crisis wouldn’t fly in any other workplace. Closing the Loophole has been endorsed by good government groups and editorial boards across the state. The Governor proposed closing the Loophole in his budget, the Assembly passed a bill closing the Loophole, and the Senate Democratic Conference has included closing the Loophole in our ethics package. So where’s the ethics reform?”

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