Republican National Committee

Both presidential campaigns are citing fundraising spikes following the Supreme Court's decision upholding President Barack Obama's health care law. Mitt Romney's organization said Friday morning it had raised $4.2 million online, and Obama's operation, while not revealing specific numbers, said they had surpassed Team Romney's announced total.

The creators of a newly approved political donation-by-text message platform find themselves at a boom-or-bust juncture.

In their perfect world, the Republican and Democratic national conventions will be political telethons of sorts, where viewers instantaneously text $10 to “OBAMA” or “ROMNEY” — a potential windfall for all.

But at the moment, the companies who want to run the donations by text message system are in drawn-out talks with major mobile phone carriers to figure out how it will all work and how much of a cut everyone will take.

Mitt Romney’s campaign fundraising significantly outpaced President Obama’s effort for the first time last month, increasing the likelihood that the Republican presidential candidate and his allies will far outspend their Democratic opponents by November.

Romney and the Republican National Committee said Thursday that they raised a combined $76.8 million in May, which is nearly as much as the presumed nominee brought in during the GOP primary season. Obama and the Democratic National Committee amassed $60 million in what was their best month so far, campaign officials said.

Mitt Romney has been on a fundraising tear recently, drawing more than $10 million during a swing through New York this week and another $10 million in Florida last week. With the primary challenge behind him, Romney is partnering with the national and state GOP fundraising apparatus to stretch donation limits beyond the $5,000 that any one person can give to his presidential campaign.

MANCHESTER, N.H.-A day after effectively claiming his party's nomination, Mitt Romney is turning his focus to raising campaign cash in hopes of erasing President Barack Obama's massive fundraising advantage.

Mitt Romney and the Republican National Committee will start raising money together, as President Obama already does with the Democratic Party.

Andrea Saul, a spokeswoman for the Romney campaign, said the joint fundraising effort is all about being being prepared to take on Obama in the fall.

President Obama has stepped up his fundraising pace, amassing $45 million for his re-election and the Democratic National Committee in February, his campaign announced Monday.

The haul outpaces the $29.1 million Obama raised for himself and the Democratic Party in January. It still trails what he collected at this point four years ago as he made his first bid for the White House.

President Barack Obama raked in more than $68 million combined for his re-election campaign and the Democratic Party during the final three months of 2011, gearing up for a formidable challenge against his Republican opponent later this year. The large fundraising quarter helped Obama's campaign and the Democratic National Committee surpass $220 million in 2011, bankrolling the president's re-election campaign as Republicans settle on a nominee. Republican frontrunner Mitt Romney raised $56 million for the primary through Dec. 31, his campaign announced Wednesday, far outpacing his GOP opponents.

Republicans collected more money than Democrats in party fundraising in November, as the two parties race to build strong war chests heading into next year's elections.

The Republican National Committee raised $7.1 million in November while the Democratic National Committee brought in $6.7 million during the month.

The RNC has $14.1 million in the bank through the end of the month, compared with $10.5 million for Democrats.

Kim Cubine shares political fundraising takeaways for the 2012 presidential election cycle offered at the panel discussion “The Great Debate: Channel Wars — Red vs. Blue, Old vs. New.”