Most “David and Goliath” stories don’t end well for the little guy. Goliath usually just stomps on David and goes on to destroy Tokyo. 

Maybe I’m mixing my cultural references. The point is, it’s hard to fight the big guys and their money when it comes to politics.

That’s why it’s so incredible that Zohran Mamdani got elected Mayor of New York City. And one of the big reasons for his victory was the city’s public financing of elections. 

How does public financing work? These programs provide a limited amount of public funds to candidates to help with their campaign expenses. In exchange for funding, candidates must agree to abide by certain limits on how large contributions to their campaigns can be.

Public financing helps prevent Big Money interests from totally dominating our politics. Candidates can run for office without having to rely on a network of wealthy donors to help fund their campaigns. They can instead do the work of representing the interests of their constituents, and not the monied interests.

Currently, over 30 state and local governments have some form of public financing program for elections, enacted either by legislation or ballot referendum.

New York City’s program, for example, provides matching funds for small dollar donations to candidates who opt into it. For every individual dollar contributed, up to $250, the city of New York matches with eight dollars in public funds. Again, candidates in NYC must agree to spending and contribution limits. 

This goes a long way to leveling the playing field for everyday Americans whose voices are being drowned out by the ultra-wealthy who can afford to buy off politicians.

Which brings us back to Mamdani: There were some powerful forces lined up to stop him.

At least 26 billionaires chipped in to fund outside super PACs that spent a total of $55 million to defeat Mamdani. Even Trump weighed in to support Cuomo. 

But ultimately, the billionaire backed Cuomo machine was defeated, in part, thanks to New York City’s public financing of elections — which boosted Zohran’s campaign and gave him the freedom to run on the issues that mattered most to New Yorkers. 

Public financing of elections gives the little guys the ability to compete with the mega-donor class. It encourages working-class people to run for office and helps them afford the expenses of campaigns. And it frees candidates to run on the issues that matter to their communities, without being beholden to the interests of the ultra-rich. 

In short, public financing helps put democracy in the hands of the people, not in the wallets of the wealthy. 

Maybe you should advocate for it where you live?