Romney pushes ahead of Obama on funding front thanks to deep Republican coffers

Published on 22/10/2012 00:53

Mitt Romney held a financial advantage over president Barack Obama heading into October thanks to strong fundraising by the Republican Party.

Campaign finance disclosures show the Romney campaign, the Republican National Committee and the fund they use jointly had $183.1 million (£114m) in cash on hand at the end of September, more than Obama and the Democratic Party, who had $149.1m.

Mr Obama’s campaign on its own has dwarfed Romney’s in the money stakes in recent months, raising $136.2m in September, according to a tally of latest reports. The Romney campaign alone raised much less: $76.1m, according to filings with the Federal Election Commission. But when taken together with the RNC, Mr Romney had more to spend on advertising and get-out-the-vote efforts as the campaign entered its last lap.

September was one of the toughest months for Mr Romney as he lagged in the polls and suffered from the release of a secretly taped video showing him make remarks that 47 per cent of the population who receive government benefits are “victims.”

Nonetheless, he continued to grow his small-donor base in September and raised nearly a third of his money from cheques of less than $200, Saturday’s filings showed.

Republican-aligned groups spent $84.1m on ads from 10 September 10 through to 18 October, while pro-Democratic groups laid out less, $23.1m, despite a strong fundraising month by pro-Obama Super PAC Priorities USA Action.

The lynchpin of Mr Obama’s fundraising effort has been the campaign’s ability to collect donations on its own as opposed to the Democratic National Committee or outside-spending groups.

Campaign finance experts say Mr Obama’s more direct control of money offers greater flexibility in how to use it. Parties have limits on how much they can co-ordinate with a candidate’s campaign on spending and TV stations promise campaigns – not outside groups or parties – the lowest prices on ads.

ALINA SELYUKH