The Problem With 'Freezing' 2009 Money
By Azi PaybarahThe city’s Campaign Finance Board declined to offer a detailed opinion about whether they’d allow candidates to access money in a “frozen” account if, at a later date, they decide to run for higher office because an incumbent there suddenly decides to not seek re-election.
The question was posed to the board by Peter Vallone Jr., who was actively campaigning for Queens Borough President until the term-limits law was extended. A spokesman for the incumbent Queens Borough President, Helen Marshall, said she intends to run for a third term.
The fear is that Marshall would change her mind after Vallone “freezes” the $800,158 he’s raised so far, and his opponent, Audrey Pheffer – who like Marshall is close to the Queens County Democratic Organization – can still use the $341,492 she’s raised so far.
Pheffer doesn’t ever have to “freeze” her account because unlike Vallone, she holds state office.
Here's more on the complications posed by the term-limits extension.
UPDATE: Vallone isn’t happy with the CFB. “All future events are 'hypothetical', and it's the taxpayer funded job of the CFB to provide guidance. Apparently, they've issued an advisory opinion advising people that they won’t provide any advice."
He added, “Candidates need guidance. Perhaps amending the CFB legislation is necessary."
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Syndicate
If only the lawsuit had succeeded
The lawsuit challenging the CFB's advisory opinion was dismissed by the judge. Without going into details of the suit, or why it failed, let's look at what would have happened had the suit succeeded:
High-spending candidates who chose to run for a third term to the Council would not be eligible for public matching funds. Any opponents would not only be eligible for far more matching funds (over $100K worth), but would also be allowed to spend every dime they raised.
As a result, some of the big-money incumbents might have been vulnerable, despite their large warchests. There comes a point when extra spending actually becomes counterproductive, which is why Mayor Bloomberg won't spend, say, $200 million this year on his campaign. Below that point, however, every extra dollar counts, and the challengers would have the benefit of many, many extra dollars.
The CFB's advisory opinion was issued on the first business day after Speaker Quinn announced her support for the term limits extension bill. Mayor Bloomberg delayed signing the bill until the day the CFB formally voted on that advisory opinion -- and held that mockery of a "public hearing" in order to draw the press away from what the CFB was doing. Coincidence? You decide.
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