Tags: Trump Administration | Bobby Jindal | GOP2016 | Hillary Clinton | Jeb Bush | Marco Rubio | Ted Cruz

Super PACs Lift Bush, Cruz to Top of Campaign Money Stakes

Super PACs Lift Bush, Cruz to Top of Campaign Money Stakes
(Janek Skarzynski/AFP/Getty Images; Paul J. Richards/AFP/Getty Images)

By    |   Thursday, 16 July 2015 10:05 AM

The candidates for the 2016 presidential campaign submitted their financial disclosure reports to the Federal Election Commission on Wednesday, and while Donald Trump made the biggest splash, announcing a net worth of $10 billion, the reports offer revealing insights into the rest of the field.

According to The New York Times, former Secretary of State Hillary Clinton has raised the most of any campaign so far, with a total of $47.5 million. Vermont independent Bernie Sanders is in second place, with his campaign committee having raised $15.2 million. And close behind is Texas Sen. Ted Cruz, who raised $14.3 million through June for his campaign.

But fundraising through the campaign is only part of the picture. With the advent of the Citizens United decision that opened the door to unlimited spending, outside groups like super PACs are playing a larger role than ever in propelling candidates toward their fundraising goals.

Former Florida Gov. Jeb Bush has raised the most outside support at $103 million, according to the Times.

Cruz is in second place for outside support with $38 million. And Florida Sen. Marco Rubio is in third place, having raised $31.9 million from outside groups.

By comparison, Clinton has raised less than 20 percent of what Bush has raised in outside funds, coming in at $15.6 million for the quarter.

The disclosures also reveal how the candidates raised their money. Sanders and former pediatric neurosurgeon Ben Carson both raised roughly 80 percent of their funds in small donations of $200 or less. And 64 percent of Kentucky Sen. Rand Paul's contributions came from small donations.

By comparison, more than 80 percent of contributions to Bush and Louisiana Gov. Bobby Jindal came from donations of $2,700, the maximum permitted for an individual to donate.

Former Texas Gov. Rick Perry also has a high percentage of large donations at 71 percent.

In the coming months, candidates will continue to jockey for cash, looking to pin down high-end donors who have yet to commit. Billionaire Paul Singer is one of the most sought-after contributors to the GOP and the hedge fund manager said Wednesday that he has yet to make his decision about which candidate he will back, according to the Times.

Singer said that while he was not "on the verge of committing to anyone," Rubio, Bush, Walker and Fiorina are among his top picks.

The FEC figures also reveal campaign spending to date.

So far, Clinton has spent the most on her campaign at $18.7 million. In a distant second comes Carson at $5.9 million in spending, and Cruz at $5.8 million. Bush has spent $3.1 million while Trump has already spent $1.4 million.

Meanwhile, 26 percent of Bush's contributions came from Florida, the Tampa Bay Times reported. Floridians contributed more than $2.9 million of the $11.4 million he raised for his campaign. That sum does not include donations to outside groups supporting Bush.

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The presidential candidates submitted their financial disclosure reports on Wednesday, and while Donald Trump made the biggest splash with a net worth of $10 billion, the reports offer revealing insights into the rest of the field and the role of outside groups like super PACs.
super pacs, campaign finance, disclosure, fundraising
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2015-05-16
Thursday, 16 July 2015 10:05 AM
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