Romney Desperately Seeks More Money

Friday, 09 Mar 2012 10:09 AM

By Dan Weil

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Mitt Romney is scrounging for more cash, as the huge advantage he built over his rivals in the Republican presidential campaign has proven insufficient. Republican insiders originally thought it would cost Romney $50 million to capture the nomination, but now they say it could take $75 million, Politico reports.

And even after that spending, victory isn’t guaranteed for the former Massachusetts governor. Romney and the super PAC supporting him, Restore Our Future, have been forced into massive spending to fend off challenges from Rick Santorum and Newt Gingrich. Much of the spending has gone toward negative ads against those two rivals.

Romney is now reaching out to his congressional backers, asking them to put in their own money and bring other contributors to the table as well. Specifically, he has requested that the 80 congressmen who have endorsed him bring in $10,000 each for a fundraiser at the end of the month.

They are legally allowed to give Romney $2,000 from their re-election committees. The remainder must come from their supporters. Front-runner Romney apparently has found that his current list of donors is tired of giving, so he needs fresh cash from fresh faces.


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