Internet
Dem Signs On To NY People's Convention Proposal
MICHAEL GORMLEY
ALBANY, N.Y. (AP) — A Republican's proposal to hold a "people's constitutional convention" to overhaul New York state government gained a critical co-sponsor Friday. Assemblyman Mark Schroeder, an Erie County Democrat, is the first majority member to sign onto the campaign started by Assembly Minority Leader Brian Kolb, a Finger Lakes Republican. Kolb proposed the constitutional convention to consider sweeping changes to the state's budget process, limits on spending, property tax caps, term limits, and a nonpartisan way to redraw legislative districts that critics say have long been engineered to protect incumbents. He has a half-dozen Republicans on board, although the bill hasn't yet been introduced. His plan would prohibit politicians, lobbyists and members of special interests groups from being delegates. Instead, New York residents would run for seats in what could be a five-month convention at a legislator's base pay of $79,500 a year. "I feel we are beyond reform in this state," Schroeder said. "I think the time has come now that people want anybody but us, really, to figure this out."TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn MoreOptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn MoreReal Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn MoreStocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,454.83 | 1,317.82 | 2,837.53 | 17.45 |
Oil *
107.26
|
|
DOWN
74.92 |
DOWN
2.86 |
DOWN
1.85 |
DOWN
0.14 |
10 Yr
1.74%
SPDR Gold
152.68
|
|
-0.60%
|
-0.22%
|
-0.07%
|
-0.80%
|
Data delayed 20 minutes |


Connect with TheStreet