Although incumbents tend to have a leg up in fundraising, the Campaign Finance Board's public matching funds program ensures that first - time candidates and those with little access to wealthy donors can run serious campaigns by
matching small dollar donations at a 6 - to - 1 ratio up to a certain amount.
Not exact matches
It is important to note that under Speaker Sheldon Silver's bill, (1) receiving public funds depends on the candidate's ability to raise money from numerous
small donors, so only
donations up to $ 250 are
matched with taxpayer
dollars and that (2) candidates are limited to a maximum amount of public funds ($ 400,000 for Senate candidates and $ 200,000 for Assembly candidates in the general election race).
Governor Cuomo's budget lays the groundwork for a public campaign finance system where
small donations would be
matched by taxpayer
dollars.
Without a public campaign finance system that
matches private
donations and encourages
small -
dollar contributions, outsider legislative candidates have little to no chance of raising enough cash to stage a significant challenge without strong name recognition or support of established organizations, unions, and local political figures.
A
matching fund for state offices could be like that in New York City, where candidates must raise a lot of
small donations to qualify for a larger pool of
matching tax
dollars, with low ceilings on overall spending.