Reinvent Albany joined civic groups, Brooklyn Democrat Senator Dan Squadron and Manhattan Democrat Brian Kavanagh and dozens of other state legislators in calling for the closure of the infamous “LLC Loophole.” This bizarre legal loophole allows essentially unlimited contributions to state political campaigns by allowing people to make contributions via an unlimited number of Limited Liability Corporations, or shell companies. The LLC Loophole is the main way that real estate companies like Glenwood Management, a major player in both the Skelos and Silver scandals, have given millions of dollars to political campaigns despite contribution limits on individuals and corporations.
“The LLC loophole is legal corruption. LLCs are used by very rich people to legally bribe elected officials. It is very simple, Albany will remain mired in corruption until this loophole is closed,” said John Kaehny, Executive Director of Reinvent Albany.