Airbnb spends $5M to back NYC candidates

Airbnb is spending big in New York politics, backing candidates who support easing restrictions on short-term rentals. The company’s Super PAC, “Affordable New York,” has $5 million to spend across the state—including more than $80,000 to support the campaign of Ty Hankerson, the current chief of staff to City Council Speaker Adrienne Adams. Adams, who is running for mayor, is sponsoring legislation that would loosen rules on Airbnb. Critics, including the Hotel Association of New York City, argue the company skirts regulations and worsens the city’s affordable housing crisis.

FOX 5’s Linda Schmidt reports.