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Bloomberg Can Seek 3rd Turn As Mayor

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The Associated Press

Published: October 24, 2008

NEW YORK - Arguing that New York needs his financial skill to guide it through the crisis on Wall Street, Mayor Michael Bloomberg persuaded the city council to amend the term-limits law Thursday so that the billionaire independent can run for re-election next year.

By a 29-22 vote, the council agreed to allow officeholders three consecutive four-year terms. Existing law limits them to two terms, and Bloomberg's second is up at the end of 2009.

The vote dramatically alters the city's political landscape. Many would-be mayoral candidates are expected to drop out of the race rather than run against a popular incumbent with unlimited cash to spend.

Bloomberg's announcement three weeks ago that he would try to rewrite the term-limits law led to a bruising debate - and a politically damaging one for the mayor, who had previously backed the term-limits law and even vetoed a 2002 bill to amend it, saying it was an attempt by politicians to change the rules for personal gain.

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