July 6, 2012

Romney, GOP raise $100 million in June

Campaign fundraising strength could give the Republicans a lasting financial advantage.

The Associated Press

DES MOINES, Iowa - Republican presidential candidate Mitt Romney and the Republican National Committee combined to raise more than $100 million in June, two GOP officials said Thursday, a striking number for a challenger who for the second straight month outpaced President Obama and the Democrats.

Given the pace of Obama's heavy advertising spending and Romney's focus on husbanding his resources, the imminent Republican nominee's fundraising put him on pace to reach Obama's impressive cash reserves this summer, just as most voters begin tuning in for the fall campaign.

Romney, while enjoying a financial bounty with money raised directly for his campaign and the RNC, was also getting help from outside "super" political committees working in his favor. Taken together, the groups' fundraising strength means Romney could have a permanent financial advantage over Obama, who could be the first president in history to be outspent by his opponent.

The totals showed Romney picking up the pace after working in April and May to bring Republicans together following a bruising battle for the Republican nomination. The campaign in concert with the RNC had set $100 million fundraising goals for June and July, and appeared to have met the first.

Obama and Romney have raised more than $350 million combined -- a pace expected to exceed $1 billion by November. That's factoring in hundreds of millions in expected contributions to political parties, joint-fundraising efforts, super PACs and nonprofit organizations.

Romney officials have privately said the governor's national committee was on track to raise $150 million in a period spanning roughly April through June. Those officials told donors there were few states that haven't broken internal fundraising records, and they expressed confidence the campaign could close its cash-on-hand gap with Obama's re-election effort.

Obama broke fundraising records four years ago, pulling in $750 million for his last campaign. To be sure, Obama also has super PACs working in his favor -- notably Priorities USA Action, run by a former White House aide -- although the groups have yet to catch up to the fundraising benchmarks of their GOP counterparts.

 

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