AP Online

NYC mayor wins fight to extend term limits

AP Online | October 24, 2008 | Copyright

Arguing that New York needs his financial skill to guide it through the crisis on Wall Street, Mayor Michael Bloomberg persuaded 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…

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