628,245.32 Reasons Gene Schulter is a Favorite to Replace Rahm

[A couple of readers, including James below, have pointed out that Schulter is limited in how he can use his funds;  the money Feigenholtz raised last quarter has no such restrictions.]

In an ongoing attempt to track the race to replace Rahm Emanuel in Illinois’ Fifth Congressional District, a look into who might have the most money squirreled away. It’s not Sara Feigenholtz, who had $313,000 in her bank as of October 5 and says she raised $300,000 before the end of the year–presumably in addition to what she had on had in October. Nor is it Mike Quigley, who reported $492,000 as of June 30. No, it’s 33-year veteran Chicago alderman Gene Schulter of the 47th Ward. According to his most recent report filed with the Illinois State Board of Elections, Schulter had more than $628,000 as of June 30. Of course, these three and other candidates, and others, have been raising funds over the last few weeks. Feigenholtz has a snazzy web and twitter presence; labor lawyer Tom Geoghegan has quickly become the darling of the “Net Roots” and non-Chicago lefties such as, most recently, Katha Pollit. But Schulter would seem to have a significant head start in the money race, not to mention a veteran campaign machinery. (As Schulter’s entry at Cloutwiki points out, the long-running feud  he eventually won over his former mentor Ed Kelly means he  “is thought to maintain one of the strongest campaign organizations in the city.”

One thought on “628,245.32 Reasons Gene Schulter is a Favorite to Replace Rahm

  1. Schulter can only use the amount he’s had in his account prior to 1999 as it was not a Federal account. Furthermore, he has to loan it to himself and pay taxes and interest. He obviously figured that out after he declared himself “in”, as that was over a month ago and he still hasn’t filed. Flores was the only potential candidate with substantial Federal money as he was going to run for Gutierrez’s seat before Luis decided not to retire. He has 300 on hand, but has decided not to run. Feigenholtz is by far the leader in filed candidates that have raised Federal money.

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