Romney Sets Fundraising Record in March

Presumptive GOP presidential nominee Mitt Romney’s campaign and the super PAC backing him are stepping up their fundraising as he prepares to face President Barack Obama in November. Both Romney’s campaign and the super PAC, Restore Our Future, had their best month to date in March, raking in a combined $21.4 million, according to reports filed with the Federal Election Commission, Politico reports.

The two committees spent slightly more than $23 million, combined, last month, closing it with cash reserves of $16.5 million. Those numbers surely eased the worries of some Republicans who were concerned that Romney would suffer from a major money shortfall against Obama, according to Politico.

The Romney campaign still trailed Obama’s fundraising by a wide margin in March — $46.4 million to $12.7 million. But the Romney campaign was able to cut costs, spending only $10.3 million, its lowest monthly total of the year, Politico reports. And that number should drop further this month because Rick Santorum suspended his campaign on April 10.

In addition, Romney attracted 170 donors who provided the maximum $5,000 contribution in March (for a total of $850,000), compared to 99 donors in March (for a total of $495,000).