How do New York City residents benefit from the public financing of campaigns?
Public financing of campaigns has several important benefits to both candidates and taxpayers. First, it makes candidates and elected officials more responsive to citizens, rather than to special interests, wealthy donors, and corporations. The importance of smaller contributions is enhanced because contributions under $175 from New York City residents become worth six times more with public matching funds. Public financing also helps credible, often grassroots and insurgent candidates, who may not have access to “big money”, run competitive campaigns. Taxpayers are also rewarded with candidates who have more time to reach out to voters and talk about issues, as opposed to spending their time fundraising.
