Here’s more proof that this election will almost certainly be impacted by the rise of the super PAC. The Mitt Romney-supporting super PAC Restore Our Future set a record for super PAC fundraising by pulling in $20 million in June.
The $20 million haul was more than four times what it brought in for May and more than three times what Barack Obama’s super PAC, Priorities USA Action, raised in June. It is also twice the amount that Restore Our Future had raised in any other month.
It appears that at least some of this record-breaking amount comes from casino magnate Sheldon Adelson, who announced a $10 million donation to Restore Our Future in June. Reports filed by Romney’s super PAC did not say how much of that $20 million came from Adelson’s donation, though.
It’s more bad news for the Obama camp, who has been out-raised in May and June, and whose super PAC has been well outpaced by Romney’s. It makes Obama’s warning to supporters that Romney and his super PAC could outspend his campaign seem that much more prophetic.
Overall, Restore Our Future has raised $80 million in support of Romney.
– 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.