An Argument Against the Public Financing of Political Campaigns

In the Winter 2015 edition of the City Journal, Stephen Eide argues against the state’s adoption of a system of public matching funds for political campaigns:

The current enthusiasm for “public” financing far surpasses evidence of its merits, however. Under the city’s program, public corruption continues to be endemic, while voter-turnout levels have dropped to record lows and incumbents remain nearly unbeatable. Extending such a system statewide would waste money, overregulate the electoral process, and create new potential for abuse.

Gov. Cuomo has again proposed a matching public funds program as part of his 2015-16 Executive Budget proposal.