by InvestorPlace Staff | May 21, 2012 11:27 am
In the war of the Super PACs, it looks like the Republican Party still holds the advantage.
According to records released yesterday, the pro-Obama Super PAC Priorities USA Action raised $1.6 million in April, its smallest take since the $59,000 it raised in January, when the election run-up had yet to start. This was $3 million less than Romney’s Super PAC, Restore Our Future, raised in April.
Not surprisingly, most of Priorities USA Action’s money comes from labor. The Air Traffic Controllers Association PAC contributed $1 million in April, while the United Association of Journeymen and Apprentices of the Pipe Fitting Industy gave another $250,000.
In addition to a fundraising deficit, Obama’s Super PAC also trails in cash-in-hand. Even after spending significant sums of money on the Republican primary race, Restore Our Future has $8.2 million in reserve, while Priorities USA Action has just $4.7 million in its coffers.
In April, Priorities USA spent $1.9 million, with $1.5 million of that going into anti-Romney advertising.
Even with Romney’s Super PAC announcing its worst fundraising month this year, it has to be worrisome to Obama supporters that his Super PAC lags behind. Making things worse is the presence of American Crossroads, a Republican-supporting political group planning a massive ad buy. At the end of March, they had $24 million in the bank, and are expected to increase that number when they release their financial figures.
–Benjamin Nanamaker, InvestorPlace Money & Politics Editor
The opinions contained in this column are solely those of the writer.
Want to share your own views on money, politics and the 2012 elections? Drop us a line at firstname.lastname@example.org and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.
Source URL: http://investorplace.com/investorpolitics/obama-super-pac-lags-behind-romneys/
Short URL: http://investorplace.com/?p=171299
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.