The New York City Campaign Finance Board (NYCCFB) has voted to withhold about $4 million in public matching funds from Mayor Eric Adams’s 2025 reelection campaign. Only one mayoral candidate was approved: former New York City Comptroller Scott Stringer, who ran for mayor in 2021 and lost to Adams.
Adams was denied because his campaign failed to demonstrate eligibility and he may be noncompliant based on the federal indictment he faces.
“After thoroughly reviewing all available information, including the details of the indictment of Mayor Adams, the Board has determined there is reason to believe the Adams campaign has engaged in conduct detrimental to the matching funds program, in violation of law, including the Campaign Finance Act and Board Rules,” said NYCCFB Chair Frederick Schaffer. “His campaign also failed to provide documents and information requested by the Board.”
The city’s matching funds program gives qualifying candidates $8 for every $1 they receive, up to the first $175 in donations for City Council seats and $250 for citywide offices. The program is meant to encourage diverse candidates to run for all city offices by raising small-dollar contributions from future constituents. Assuming candidates meet all requirements of the Campaign Finance Act and NYCCFB rules, they can look forward to serious payouts.
This month, NYCCFB gave out a first round total of $4,844,084 to 19 candidates for the upcoming 2025 elections. There are seven additional payment dates before next year’s June primary election and five payment dates before the general election in November 2025.
Adams, who is embroiled in a federal indictment for campaign fraud and bribery in 2021, hadn’t raised much in donations since that news broke headlines in September. Before the NYCCFB vote, it was rumored that Adams would be denied public matching campaign funds. He was reportedly fundraising for his re-election in Puerto Rico at a Dec. 10 campaign party hosted by cryptocurrency entrepreneur Brock Pierce and tech founder Michael Brooks.
“Even without the funding, we have outraised substantially everyone else that’s in the race,” said Adams at his press conference on Dec. 16. “When I was running the last time, they changed the rules in the middle of the game, and I had to turn back $750,000 because of a proposal — a law that went through the City Council. There’s always been hurdles for me in this business.”
Adams can technically raise cash on his own from bigger donors at the higher $3,700 contribution limit. He would also no longer be held under the roughly $8 million spending limit for program participants.
Election reform advocates approved of Adams being denied funds. Karen Wharton, democracy coalition coordinator of Citizen Action of New York, applauded CFB’s decision, saying that a failure to comply should result in the denial of public funds. “This decades-old program has helped the NYC Council become one of the most diverse in history and more reflective of the people who live here,” said Wharton. “This progress is an important step toward a more inclusive democracy. That is a crucial reason to protect this landmark program: ensuring it remains equitable and transparent.”
The Adams campaign was not alone; 13 other mayoral candidates also failed to qualify for public matching funds this round, mostly because they didn’t reach the threshold or didn’t submit their paperwork in time.
Stringer, in his second attempt at running for mayor, is seemingly banking on Adams’s downfall. He was awarded $2,088,571 in public matching funds.
“New York City needs a proven reformer to clean up City Hall and get the government back to delivering for people in this city,” Stringer said in a statement. “Our campaign qualifying for matching funds shows that New Yorkers trust that I am the best candidate to do so. In living rooms across the city, thousands of grassroots donors have chipped in to lay the foundation of our five-borough coalition and say loud and clear that they are fed up with the status quo.”
Stringer said he is “honored and inspired by the hardworking people from every walk of life who have placed their trust in me to put the greatest city in the world back on track. With the additional resources, we will continue to assemble a robust, well-organized campaign that is built to last and will spread our message across the five boroughs.”
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