Tuesday, 12 June 2012

Fund-raising frenzy for Obama and Romney

The battle for big bucks kicks into high gear Tuesday as campaigning takes a backseat to fund-raising for President Barack Obama and Republican challenger Mitt Romney.

Fund-raising frenzy for Obama and Romney

The president could raise at least $3.6 million at six fundraisers he's attending in Maryland and Pennsylvania. According to a campaign official, Obama is the main attraction at an event in Owings Mills, Maryland, followed by two more in Baltimore. The president then makes the very short hop from Baltimore to Philadelphia, where he's the center of attention at three fundraisers at the Franklin Institute.

All proceeds from the event to go the Obama Victory Fund, a joint fundraising committee of the Obama re-election campaign, the Democratic National Committee and several state Democratic parties.
After holding a campaign event in Orlando, Florida, Romney will be the main attraction at a couple of fund-raisers. According to a campaign official, 150 tickets have been sold for a photo reception, general reception and a private luncheon, with ticket prices ranging from $2,500 to $50,000. The presumptive Republican nominee then heads to Franklin, Tennessee for another fundraiser.
Romney raised around $3 million at a couple of high dollar events Monday evening in Atlanta.
While Obama held the early edge in the race for campaign cash, Romney outraised the president last month. The Romney campaign reports it and the Republican National Committee raised a combined $76.8 million in May, compared to the more than $60 million the Obama campaign says it and the Democratic National Committee brought in last month.
Then-Sen. Obama broke all records in raising around $750 million in the 2008 cycle, more than tripling the money brought in by Sen. John McCain, the GOP presidential nominee. But it should be a much more even money race this time around, especially when you factor in the independent super PACs (Republican groups are out-raising their Democratic counterparts), which didn't exist four years ago.

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