The Democrat says negotiations to create new public integrity laws failed, so he's creating the investigative panel instead. He says Wednesday he refused to "significantly compromise" his reform proposal.
The committee will have subpoena power and go after the influence of campaign contributions on politicians.
The issue was forced by the latest spate of corruption cases involving lawmakers this spring.
Cuomo says campaign donations are so central to corruption that focusing on that money doesn't limit the scope of the probe. Instead, he says "it's everything" when investigating government corruption.
There was no immediate comment from the Senate and Assembly.
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