Republican state lawmakers who voted against the last December’s $32,000 pay increase and the institution of a similarly-sized outside-income cap, and others, are suing to get rid of the cap, arguing it violates the federal and state constitutions. WRCR market analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge says keeping the cap could have the unintended consequence of discouraging otherwise qualified candidates from running for office…
When New York lawmakers, mostly Democrats, decided to raise their own salaries 29 percent last December, giving them an annual salary of $142,000, they also decided outside income should be capped at $35,000. Among the plaintiffs in the lawsuit is Rockland state senator Bill Weber. According to The Journal News, he reported the most private-sector income last year, around $200,000, just before taking office, working as a corporate CFO. The limit on additional earning is due to take effect in 2025.