Tags: Ted Cruz | presidential candidate | 2016 | fundraising | money | campaign

Cruz Rakes in $4 Million Since Announcing Campaign

Cruz Rakes in $4 Million Since Announcing Campaign
(Lane Hickenbottom/Reuters/Landov)

By    |   Thursday, 02 April 2015 09:24 AM

Ted Cruz has brought in $4 million since announcing his candidacy on March 23, with money coming in from mainly small-money donors who identify with the tea party movement rather than large donors who are already contributing to former Florida Gov. Jeb. Bush.

The Texas Republican's tally means he's outraising past candidates like former House speaker Newt Gingrich, who took two months to gather $2.1 million after launching his campaign in 2011, and like Sen. John McCain, who took a month and a half to raise $1.7 million after starting his presidential exploratory committee in 2006, reports The Wall Street Journal.

"Often you have an establishment candidate, usually the moderate, who will be well funded," Cruz spokesman Rick Tyler told The Wall Street Journal. "Here we have a candidate who is conservative and can raise money."

Ninety-five percent of Cruz' contributions in the last eight days have been for $100 or less, according to Tyler, with an average of $83 being pledged.

Part of the reason for the success could be a barrage of emails from the Cruz camp seeking "emergency donations" to help the campaign meet one of its first fundraising deadlines on March 31. The emails, funded by the Cruz for President campaign, generally ask for small donations of even as low as $5, or whatever the donor can afford.

"We have less than 5 hours left before our first fundraising deadline, and we still haven't reached our goal," said an email sent to potential donors on March 31. "We need to show the Liberal Elite that for us, failure is not an option."

Overall, The Wall Street Journal reports, Cruz' campaign hopes to raise $40 million over the next year. But already, Bush, the favorite of the large GOP donors, is holding a series of nationwide fundraisers even before officially announcing his campaign. Last month, Bush and his team reportedly were trying to squash rumors that he would raise $100 million by the end of March and as much as $500 million by June.

The former Florida governor can continue to bring in large sums of cash for his super PAC, Right to Rise, before he officially announces his candidacy. After that, he will not be able to coordinate efforts with the PAC.

Cruz also is benefiting from being the first to officially enter the race, according to a CBS poll that found that after his announcement, 37 percent of Republicans said they would consider voting for him, an increase from 23 percent in February.

The Texas senator is about to be joined in the race, though. Kentucky Sen. Rand Paul, one of Cruz' key rivals for the GOP's conservatives, plans to announce his nomination bid on Tuesday, Further, Florida Sen. Marco Rubio, the son of Cuban immigrants, is tentatively scheduled to announce his presidential aspirations on April 13 at the historic Freedom Tower in Miami, where thousands of Cuban refugees were admitted to the country during the 1960s and '70s.

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Ted Cruz has brought in $4 million since announcing his candidacy on March 23, with money coming in from mainly small-money donors who identify with the tea party movement rather than large donors who are already contributing to former Florida Gov. Jeb. Bush.
Ted Cruz, presidential candidate, 2016, fundraising, money, campaign
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2015-24-02
Thursday, 02 April 2015 09:24 AM
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