Republican Committee Makes Big Turnaround on Fund-Raising [View all]
Source: NY Times
Once teetering on the edge of bankruptcy and irrelevance, the Republican National Committee has raised more than $110 million over the past 15 months and retired more than half its debt, accumulating large cash reserves that could give Mitt Romney a critical boost later this spring as he intensifies his campaign against President Obama.
With the divisive and drawn-out Republican primary season moving toward a close, the committee reported more money in the bank at the start of last month than the Democratic National Committee, which raised about $137 million during the same period but also spent far more.
Party officials said the Republican committee would report more than $30 million in cash on hand in filings due with the Federal Election Commission this month, including a $22 million “presidential trust” that would be available to Mr. Romney should he become the party’s nominee.
The committee’s unexpected turnaround is a case study in how Republicans are chipping away at Mr. Obama’s advantage in traditional fund-raising — and of the rapid evolution of old-fashioned party institutions in the post-Citizens United landscape of “super PACs” and the unlimited money they can raise and spend.
Read more: http://www.nytimes.com/2012/04/06/us/politics/republican-committee-fund-raising-has-big-turnaround.html?pagewanted=all
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