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Former Wall Street executive Ray McGuire is reportedly being funded heavily by those who are apparently worried that a progressive candidate might emerge as the next mayor of New York City.
The last time there was an open mayoral election in New York City, an independent committee spent roughly $900,000 to help take down the presumptive front-runner, paving the way for Bill de Blasio’s victory.
Eight years later, another onslaught of barely regulated money is heading New York’s way, with super PACs poised to play an outsize role in the race for mayor, the most important election in recent city history.
Business-friendly organizations have already raised millions of dollars. At least one candidate, Raymond J. McGuire, has a dedicated super PAC.
And now progressive groups are getting in on the act, creating their own super PACs to supplement their on-the-ground and social media efforts.
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