Romney Campaign Raised More in June
Mitt Romney outraised President Barack Obama in June as super PACs gave more to his campaign efforts. But even if he has more campaign funds, Romney is outspent by President Obama last month. This is according to the Federal Election Commission reports released last Friday. Romney and the GOP’s fundraising totals have surpassed that of President Obama.
Romney and a joint committee with the Republican National Committee outraised President Obama and the Democrats by $35 million in June. They already amassed a total of $106 million for the election this year.
According to the financial disclosures, Restore Our Future, an independent pro-Romney political action committee, collected $20.7 million in June. This is a record monthly high for the super PAC. It outraised its Democratic rival Priorities USA, which got $6 million. It is also the group’s monthly high as well.
While it’s clear that Romney’s campaign has the advantage in terms of fundraising, President Obama still has more cash. As of June 30, it had $97.5 million on hand even after spending around $57.7 million, mostly on TV ads.
The Romney campaign spent only $27.4 million in June and had $22.5 million in the bank. President Obama didn’t have to spend money to defeat opponents during a primary as Romney had to do. The Republican candidate had to spend a lot to secure his nomination.
To help Romney lessen the gap, the Republican National Committee and the super PAC Restore Our Future try their best to raise funds. The RNC has $89.4 million on hand, compared to the Democratic National Committee’s $37.5 million. Restore Our Future has $22 million by the end of June. Priority USA has $3 million.
Restore Our Future’s June fundraising haul included a $10 million donation made by Las Vegas couple Sheldon and Miriam Adelson. They provided majority of the funding to a super PAC that supported Newt Gingrich’s primary campaign.