By Sabina Mollot
On Wednesday, Governor Andrew Cuomo said it was time to close the infamous LLC Loophole.
It was while making his State of the State address that Cuomo said that as far as the LLC Loophole is concerned, “The time for debate has passed. I call on the legislature to close the LLC Loophole. Pass it and I will sign it the very same day.”
He went on to say how there was a time when legislators, at the end of the day at the Capitol, went home to work on their farms. But nowadays, the governor said, they leave for their law firms, which is a recipe for conflict. He then proposed adopting the Congressional system of limiting outside income for legislators. He also acknowledged that the current campaign finance system makes it impossible for a candidate without funds to get anywhere. “We should encourage new participation,” he said, and also went on to say taxpayer money should not be used to pay the pensions of legislators who’ve been convicted of crimes relating to their jobs.
“2015 was a tough year. It was an ugly year on many levels,” said Cuomo, no doubt in reference to the Dean Skelos and Sheldon Silver corruption cases.