Pro-Romney Super PAC rakes in $20 million in June

WASHINGTON Mon Jul 16, 2012 2:31pm EDT

Republican presidential candidate Mitt Romney speaks at the NAACP convention in Houston July 11, 2012. REUTERS/Richard Carson

Republican presidential candidate Mitt Romney speaks at the NAACP convention in Houston July 11, 2012.

Credit: Reuters/Richard Carson

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WASHINGTON (Reuters) - The "Super PAC" backing Republican presidential hopeful Mitt Romney saw its best fundraising month yet in June, raising some $20 million and by far outpacing its chief rival group backing President Barack Obama.

Restore Our Future, the pro-Romney "super" political action committee, disclosed the cash haul on Monday but did not indicate how much remained in cash on hand at the end of June.

Half of the $20 million is expected to be cash from Las Vegas casino mogul and billionaire Sheldon Adelson, Republican Super PACs' most active donor this campaign season.

The pro-Obama Super PAC, Priorities USA Action, also had its best fundraising month in June but brought in $6.1 million.

The pro-Romney group, which is not allowed to coordinate with the official campaign efforts, had seen two months of tepid fundraising -- garnering $5 million in May -- as Romney himself kicked his campaign into full election gear and notably narrowed the money gap against Obama.

Springing to prominence during Romney's heated battle for the Republican nomination, Restore Our Future helped disarm several of Romney's party rivals like Newt Gingrich with multimillion-dollar ad attacks. Now, alongside other Republican groups, Restore has turned fire on Obama.

In June, the group spent about $15 million on ads, roughly half running in nine battleground states and another half booked in 11 states for the first week of August. The ads hit Obama for the state of U.S. economy and joblessness.

Super PACs, allowed to raise and spend unlimited funds, have become perhaps the biggest weapon in that fight. Operating outside of official efforts of campaigns and national parties, they have taken over much of the dirty work of negative advertising.

Obama's campaign has started sounding alarms that such outside spending groups would help Romney would overtake the president's fundraising -- traditionally an incumbent's advantage -- and make him the first sitting president to be outspent in an election.

Obama and the Democratic Party's early start still leaves him ahead of his Republican rival. The total he has raised for himself, the Democratic National Committee and the fund they use jointly stands at $552.5 million compared to Romney's $394.9 million raised for his campaign, the Republican National Committee and their joint fund. But Romney has garnered support of Wall Street and many wealthy Americans, disgruntled by what they see as Obama's anti-business rhetoric and policies.

Since Romney emerged as the presumed Republican nominee in April, he and the RNC outraised Obama and the Democrats for two past months in a row.

Super PACs are required to disclose all of their donors, and official spending and fundraising disclosures for June from them and campaigns are due on July 20.

(Editing by Cynthia Osterman)

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Comments (5)
AlkalineState wrote:
You can polish a turd, but that’s all you’re doing. Throwing more money at Romney won’t cure the stink. I just hope they keep doing it. This is like a tax on the wealthy. A wealth transfer from the billionaires to the liberal media outlets for air time. And Romney is still going to lose. His dirt runs deep and that’s why he refuses to release old documents. Hesitation leads to speculation. Speculation leads to stagnation. Stagnation leads to Sarah Palin world.

Jul 16, 2012 4:09pm EDT  --  Report as abuse
UauS wrote:
“Originally a Democrat, Adelson became a Republican as his wealth increased. “Why is it fair that I should be paying a higher percentage of taxes than anyone else?” he once asked.”
“His personal wealth is estimated to be $24.9 billion as of March 2012.”
(Source: Wikipedia)

comments?

Jul 16, 2012 4:47pm EDT  --  Report as abuse
coldfish2 wrote:
the religious right and the libertarian right compose a massive subset of the RNC. They have so many conflicts in ideology it is just insane. Moreover, the actual republican of the 80′s appears to have even more conflicts.

The ONLY uniting factor between all of them is their joint hatred for all things related to Obama.

That might get them elected, but then what? Seriously, what happens when you have to pass policy through a congress where you’ve all the dems voting against you as well as a subset of your own people.

nothing, that’s what.

What happens when you try to negotiate treaties with other countries when they know that you can’t get anything done in your own nation, that you’re not going to be able to hold up your end of the deal.

They blow you off, that’s what.

I don’t know what in the world the RNC is thinking, but they’d better get it together with more than anti-obama as the uniter. seriously, a win by Romney at this level could be a massive catastrophe for the entire nation.

We’ve survived 4yrs with Obama and the world hasn’t collapsed in on itself as they predicted. The fires of hell haven’t enveloped us. We’re doing better than when he started. Personally, I didn’t vote for the guy, but I’m more impressed than I expected I could be, and I sure don’t see much of an option now.

Jul 16, 2012 5:21pm EDT  --  Report as abuse
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