As super PACs carpet bomb the airwaves with negative ads, Republicans hold the financial advantage.
by RACHAEL MARCUS, Center for Public Integrity
Conservative super PACs dominated their Democratic rivals in the latest round of fundraising, according to reports from the Federal Election Commission filed Monday.
Restore Our Future, a super PAC supporting presumptive GOP presidential nominee Mitt Romney, brought in $7.5 million in July, finishing with an imposing $20.5 million in the bank. Top contributors include Texas homebuilder and super donor Bob Perry, who gave another $2 million.
Perry was already top donor to the group and the latest donation pushes his total to a whopping $8 million. Another major donor was the Renco Group, a family-owned investment company associated with billionaire investor Ira Rennert, which gave $1 million.
Conservative super PAC American Crossroads brought in $7.1 million finishing the month with $29.5 million in the bank. Texas mega-donor and billionaire Robert Rowling’s TRT Holdings, a private holding company that includes Omni Hotels and Gold’s Gym, gave $1 million. TRT also gave $1 million to American Crossroads in February. Rowling personally gave $1 million to the super PAC in May and another $1 million in July.
Meanwhile, the Democratic super PACs didn’t fare quite as well.
Priorities USA Action, which supports President Barack Obama, brought in $4.8 million in July, a hefty total but well short of the pro-Romney group. It finished the month with $4.2 million on hand, about a fifth as much as the Restore Our Future juggernaut. [MORE]