New Balance Chairman Drops $1 Million On Josh Kraft Super PAC In Boston Mayor Race

By Gintautas Dumcius

Commonwealth Beacon

JIM DAVIS, the multi-billionaire chairman of shoemaker New Balance, is once again opening up his wallet and wading into Boston politics.

Earlier this month, he sent $1 million to an outside group supporting Josh Kraft’s bid to unseat Mayor Michelle Wu, according to campaign finance filings made public late Friday afternoon. The money went towards a super political action committee (PAC), which can raise and spend unlimited amounts of money, named Your City Your Future.

Super PACs are expected to play a large role in this election cycle, as political operatives consider them more impactful at the local level. While donors are limited to contributing $1,000 to a candidate’s campaign committee in a calendar year, super PACs offer the opportunity to donate a larger sum. Super PACs operate with fewer restrictions, though they cannot coordinate with the campaign of the candidate they are supporting.