Politics

For the third month in a row, Republican presidential challenger Mitt Romney’s campaign outraised the re-election effort of President Obama, scooping up $101.3 million, while the president pulled in more than $75 million.  

Presidential hopeful Mitt Romney's letter is minimalist, refreshing.

Super PACs had their biggest fundraising month ever in June when they raised a combined total exceeding $54 million. In total, super PACs have raised $298 million in the 2012 election cycle, with the vast majority coming from mega-donors giving at least $500,000.

Seventy percent of all contributions to super PACs in the 2012 election cycle have come from donors giving $500,000 or more. They are led by billionaire casino magnate Sheldon Adelson, whose family has combined to give $37.75 million to super PACs through June.

The National Republican Congressional Committee edged out the Democratic Congressional Campaign Committee in June fundraising, bringing in $10.7 million to $10.5 million for the DCCC. It is a switch from May, when the DCCC narrowly led the NRCC.

The DCCC has outraised the NRCC so far for the cycle by nearly $10 million, but because of the debt it took on from the 2010 cycle and a higher burn rate, it trails in cash on hand. The NRCC has $41 million in the bank, while the DCCC has $32 million.

U.S. Reps. Paul Ryan, of Wisconsin, and Michele Bachmann, of Minnesota, are among the top five U.S. House candidates nationwide in money raised during the current two-year election cycle, according to midyear election filings. Bachmann raised $14.8 million, and Ryan brought in $4.2 million, according to the Center for Responsive Politics.

All of the top five fundraisers were Republicans. The other three were Rep. John Boehner, of Ohio, who raised $18.2 million, Rep. Allen West, of Florida, who pulled in $10 million, and Rep. Eric Cantor, of Virginia, who raised $6.3 million.

Less than four months until Election Day, the battle for the White House already has crossed the $1 billion mark — as the presidential candidates, political parties and the two super PACs closely aligned with President Obama and Republican rival Mitt Romney race to collect political cash.

The biggest spending is yet to come in a presidential race that could hit an eye-popping $3 billion, said Bob Biersack of the Center for Responsive Politics, which tracks campaign money.

President Barack Obama’s trip to San Antonio and Austin brought in about $3.5 million in campaign donations, breaking his previous single-day fundraising record in Texas of $2.1 million.

The president took a break from campaigning in vital swing states to visit deep-Red Texas Tuesday because it is still a good source for fundraising, according to the Washington Post.

Senate Republicans blocked a bid by Democrats on Monday to require political fundraising groups to reveal their anonymous contributors who are fueling negative television advertisements ahead of the November election.

By a 51-44 party line vote, supporters of the Disclose Act of 2012 fell short of the 60 votes needed to clear a Republican procedural hurdle.

Square, a mobile payments startup company, announced that political organizations can mobilize their campaign staffs and empower them to accept credit and debit card contributions on their mobile devices on behalf of their organizations. Political organizations authorize individual staff members to accept payments on behalf of their campaigns from their Square accounst. Once staff members sign up, they download the free Square Card Reader app and receive a free card reader. When staff members collect payments, funds are deposited in the campaign’s bank account the next business day.

The Romney campaign, along with its Romney Victory fund and the Republican National Committee, raised more than $100 million in June, obliterating the campaign's goal and setting the one-month record for any Republican campaign, according to a GOP official.

Now-President Barack Obama raised $150 million as he was surging in September 2008, the record month for any campaign.

The Romney campaign says much of the June haul came from new donors, with states from coast to coast outperforming their targets.