Bloomberg To Run For A Third Term

Mayor Bloomberg will announce his intentions to seek a third term on Thursday, arguing that he has what it takes to guide New York through the financial implosion, according to the New York Times.

He currently can not serve a third term, as it is prohibited by New York City law, but he will try to get the City Council to overturn that law, rather than have voters decide. The people of New York have voted in favour of term limits twice in the recent past, once in 1993 and again in 1996. Council support for extending limits is reported to be strong.

NYT: After months of speculation about his political future, Mayor Michael R. Bloomberg plans to announce on Thursday morning that he will seek a third term as mayor, according to three people who have been told of his plans.

…Right now, Mr. Bloomberg is barred by law from seeking re-election. But he will propose trying to revise the city’s 15-year-old term limits law, which would otherwise force him and dozens of other elected leaders out of office in 2009, the three people said.

…The move represents an about-face for Mr. Bloomberg, who has repeatedly said he supports term limits and once called an effort to revise the law “disgusting.” He will apparently try to do so through legislation in the City Council, rather than the ballot box.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.