Study Attempts to Show Cost of Public Financing of Campaigns

Yesterday, the Rockefeller Institute of Government at the University at Albany and the League of Women Voters held a forum on campaign finance reform. (Read my prior post about the event here, and coverage of the event in the Albany Times Union).

One of the program’s panelists, Michael Malbin, Executive Director of the Campaign Finance Institute (CFI) and Professor of Political Science at the University at Albany used the occasion to release an analysis of 2012 campaign spending, and an estimate of the cost if New York State adopted a campaign finance system in which the state matches small donations to candidates.

Professor Malbin’s analysis indicates that the expected cost of a small-donor matching funds system would be between $25 million and $40 million per year.  Read CFI’s analysis here.

One issue that has not been addressed by advocates for a small-donor matching fund system is the need to set up an effective system (and, presumably, a state agency) to administer the program.  In New York City, the Campaign Finance Board (CFB) was created to administer their system educate candidates and treasurers about the program, and to take action against violations, where necessary.

It’s also unclear whether New York would attempt to take any steps to address independent expenditure spending through Super PACs, which we saw a great deal of in the recent election cycle.