Assemblyman Dinowitz Reaffirms Support to Close LLC Loophole

Albany, NY – Today Assemblyman Jeffrey Dinowitz (D-Bronx) reaffirmed his strong support for legislation to reduce the ability of deep-pocketed special interests to make unlimited campaign donations. The legislation, which has already passed the Assembly overwhelmingly earlier this legislative session, would bring LLC’s in line with other corporations by creating a uniform law that restricts LLCs to the same $5,000 aggregate contribution limit. This would increase transparency in elections and provide greater accountability in government by stopping individuals from contributing above the legal limits.

Assemblyman Dinowitz said, “Currently, LLCs provide a loophole for special interests to make unlimited, and often anonymous, political donations that drown out the voices of ordinary voters. Closing this loophole will prevent the rich and powerful from skirting around contribution limits to unfairly buy influence and access.

“Big money campaign contributions have a corrosive effect on our electoral system and a corrupting influence on our government. Candidates chasing large donations from well-heeled contributors looking for special access or influence are less able to represent all of their constituents. Our democracy will only suffer as a result. This legislation helps ensure that everyone is playing by the same rules when it comes to political contributions. I am proud to co-sponsor this critical legislation in the Assembly, and I thank Governor Cuomo for joining us in supporting this measure which will have a significant impact in reducing the influence of big money in political campaigns.”