Paul Vallas and Brandon Johnson can now raise nearly unlimited amounts of cash for their campaigns, after Vallas loaned $100,100 to his campaign on Thursday, two days after advancing to the April 4 runoff.
on June 31 as he launched his campaign for mayor of Chicago. City rules require candidates for public office and elected officials to identify sources of income greater than $1,000, and to indicate whether they earned less than $5,000, more than $5,000 but less than $25,000 or more than $25,000. Vallas indicated he earned more than $25,000, according to the form.
The law is designed to even the playing field between wealthy candidates and those who cannot self-fund their campaigns by allowing them to raise bigger amounts from contributors. Limits on campaign contributions imposed by city laws remain in place. Companies and people doing business with the city or its sister agencies are limited to contributing $1,500 to any one candidate per year, according to the city’s campaign finance ordinance.
Kaplan called the part of Illinois’ law that Vallas used a “loophole” that candidates can use to “open the floodgates to unlimited money from big donors.” The fact that loans are allowed also makes a mockery of the whole original “self-funding” purpose of the law, Kaplan said.
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