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Eric Adams faced a significant setback in his re-election campaign when New York City’s Campaign Finance Board denied him over $4 million in public matching funds on Monday morning, amid ongoing federal and city investigations into his campaign finances.
Under the city’s program, which matches each New York resident’s donation up to $250 with $8 in public funds, Adams’ eligibility has been suspended, creating a substantial obstacle for his re-election efforts while he confronts federal criminal charges.
My statement on the NYC CFB's decision to deny @NYCMayor Eric Adams millions in public matching funds for his re-election campaign. pic.twitter.com/ExTBNvFIpg
— Jim Walden (@jimfornyc) December 16, 2024
“I should note the first payment date, and it’s not unusual for a number of candidates to be ineligible at this time,” said CFB Chair Frederick Schaffer. “Candidates who have been denied payment today have a right to appeal that decision.”
“The board does not usually make a public explanation of its payment decisions, however, because the circumstances are unusual in the public interest rate, we have determined that it is appropriate to be transparent with the public,” Schaffer said.
“The board has determined that there is reason to believe the Adams campaign has engaged in conduct detrimental to the matching funds program in violation law, including the campaign finance act and board rules,” he added.
The board’s scrutiny intensified following Adams’ September indictment, with suspicious donations identified between July and October. Their investigation also revealed irregularities in his 2021 campaign, which could impact his current funding eligibility.
NEW YORK: The NYC Campaign Finance Board denied up to $4.3 million in matching funds for Mayor Eric Adams' reelection campaign due to suspicious donations linked to his federal corruption indictment. pic.twitter.com/A7aaRbk1so
— KolHaolam (@KolHaolam) December 16, 2024
The mayor’s legal troubles stem from allegations of improper donation bundling and straw donation schemes during his first mayoral campaign. His upcoming trial in April leaves him minimal time to campaign without the shadow of corruption charges, should he be acquitted.
Despite these challenges, Adams’ campaign maintains a substantial war chest, with over $3 million remaining from their October filing. However, the loss of matching funds presents a significant hurdle as Democratic challengers prepare to contest his position.
