Mayor Bloomberg to Run for Third Term

New York City Mayor Michael Bloomberg (I) will seek a third term, The New York Times reports.

Under current city law, Bloomberg is restricted to serving only two terms. But he now will seek to overturn the term limits before next year’s election, two unnamed sources told the Times.

Bloomberg, a former Democrat who won both of his mayoral races as a Republican, has received sky-high approval ratings, due in large part to his handling of New York’s economy in the wake of the 2001 terror attacks. He defeated his 2005 Democratic opponent Fernando Ferrer 58 percent to 39 percent.

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