Hochul Avoids Campaign Matching Funds — and a Fundraiser Disclosure Rule

Also: A super PAC targets Democratic Socialists.

Chris Bragg and Nick Garber   ·   April 28, 2026
Hochul’s campaign has framed the decision not to enroll in the state’s new publicly funded elections program as part of her broader affordability agenda. | Mike Groll/Office of Governor Kathy Hochul

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Governor Kathy Hochul declined earlier this year to enroll in the state’s new publicly funded elections program, forgoing millions of dollars for her re-election campaign.

The program matches small private donations to campaigns with public dollars. Hochul’s campaign has framed the decision as part of her broader affordability agenda, stating that the money could instead be used to “fund programs that put more money in New Yorkers’ pocket.”

The move also brought a little-noticed benefit: Hochul can avoid disclosing detailed information about who is throwing and attending her campaign fundraisers.

The governor has smashed fundraising records with the help of lobbyists and deep-pocketed interest groups. Even without taxpayer assistance, Hochul’s campaign has $20 million in cash on hand — and a massive fundraising lead over her Republican opponent.

In response to past Freedom of Information Law requests from New York Focus and other outlets, the governor’s office has repeatedly refused to provide documents identifying who is throwing her fundraisers, even as the state’s open records advisory body has stated such information should be public.

If Hochul had enrolled in the matching funds program, her campaign would have been obligated to share that information with the Public Campaign Finance Board, which runs the program, making the records obtainable through FOIL requests filed with the regulator.

According to the board’s handbook, candidates enrolled in the program must submit certain records to the regulator monthly and with each full campaign finance report. A spokesperson for the Board of Elections, the agency where the public campaign board is housed, confirmed that this includes records related to all campaign fundraising events: dates and locations, the people or organizations throwing them, and which contributions stemmed from each gathering. In addition, all enrolled statewide candidates are subject to post-election audits.

Asked if the desire to sidestep disclosure played any role in Hochul’s decision to avoid the program, a Hochul campaign spokesperson referred back to its original statement, from February, about saving taxpayers money.

Like all candidates, Hochul does have to publicly disclose a limited amount of information about who throws fundraisers, triggered only when a donor pays for a specific “in-kind” fundraiser expense.

Hochul’s Republican opponent, Bruce Blakeman, also isn’t enrolled in the matching funds program — though not by choice. In a recent 4–3 decision, the four Public Campaign Finance Board commissioners appointed by Democrats voted not to allow Blakeman into the program over a paperwork oversight, costing his campaign up to $7 million. Blakeman is now suing.

Many Democrats, including Hochul, have expressed support for publicly funded elections that reduce the influence of affluent donors, while amplifying small ones. Republicans have historically criticized them as wasting taxpayer money. But in this race, it’s the heavily favored Democratic incumbent raising big bucks out of the public eye.

—Chris Bragg

Another Anti-DSA Super PAC Forms

A business-aligned group that has deployed millions of dollars against socialist candidates in recent years is gearing up for another fight in this year’s state Senate and Assembly primaries.

A new super PAC, New Yorkers for a Better Future 2026, was registered on April 9 by strategist Jeffrey Leb. Leb has organized a number of similarly named super PACs in recent years that have primarily opposed candidates affiliated with the Democratic Socialists of America, and he confirmed that the new effort will have the same goal.

“The DSA’s push to take over the New York State Legislature represents a direct threat to the quality of life New Yorkers depend on,” Leb wrote in a statement. “New Yorkers for a Better Future 2026 exists to meet that threat head-on and ensure that New York State remains accountable to working families, not a radical fringe.”

DSA’s New York City chapter is supporting seven Assembly candidates and one Senate candidate in the June Democratic primaries. Four of the Assembly candidates are challenging incumbents and two are running for open seats. One, Diana Moreno, is seeking a full term after a February special election. The Senate candidate, Aber Kawas, is seeking the open Queens seat being vacated by Michael Gianaris; she will face non-DSA Assemblymember Steven Raga.

The super PAC will participate in 10 races if it hits its fundraising goal, according to Leb, who declined to specify the races or the fundraising goal. Unlike regular campaigns, there are no limits on individual donations to super PACs, but they cannot donate funds directly to political candidates or coordinate with their campaigns. 

Last year, a Leb-run super PAC raised $1.9 million for New York City Council primaries, where it largely backed moderate incumbents and opposed two progressive members who won reelection anyway. Another Leb PAC focused on the mayoral race spent $1.4 million to support Andrew Cuomo and oppose Zohran Mamdani and Curtis Sliwa.

Top donors to Leb’s PACs have included investors Bill Ackman and Daniel Loeb and real estate developers like Two Trees, Extell, and Related Companies.

At the state level, Leb’s Common Sense New Yorkers PAC spent nearly $1 million in 2022 to oppose legislative candidates supported by DSA and the Working Families Party. Most of those DSA-backed candidates lost their primaries.

The new PAC’s registration came days after a separate super PAC, not registered by Leb, formed to support Harlem Assemblymember Jordan Wright against a DSA challenger. Charlie King, a veteran strategist close to former Governor Cuomo, has been involved in those efforts, New York Focus reported.

—Nick Garber

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A photo of Akash Mehta.
A photo of Chris Bragg.
Chris Bragg is the Albany bureau chief at New York Focus. He has done investigative reporting on New York government and politics since 2009, most recently at The Buffalo News and Albany Times Union.
A photo of Nick Garber.
Nick Garber covers politics for New York Focus. He previously worked for Crain’s New York Business, where he covered city and state government, housing and real estate, and money in politics. He also covered neighborhood news in Manhattan and Queens for Patch, and got… more
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