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Santorum Doubles Fundraising in January as Romney Leads Pack

Monday, 20 February 2012 09:30 PM EST

After winning the Jan. 3 Iowa caucuses, Republican presidential candidate Rick Santorum more than doubled his fundraising last month as compared with the entire previous year.

According to Federal Election Commission financial disclosure reports, Santorum raised $4.5 million in January after collecting $2.2 million during all of 2011.

Santorum, a former U.S. senator from Pennsylvania who also won the Feb. 7 contests in Missouri, Colorado and Minnesota, reported having $1.5 million in the bank at the start of February, the FEC records show.

Former Massachusetts Governor Mitt Romney continued to raise more money than his Republican primary opponents, taking in more than $6.5 million last month, according to his disclosure report. Romney, who’s won four primary contests including Florida, has now raised $63.7 million, and had a campaign bank account balance of $7.7 million as of Jan. 31.

Newt Gingrich was second to Romney among Republicans in fundraising last month after winning the Jan. 21 South Carolina primary. That victory helped generate $5.6 million in donations. Through Jan. 31, he has raised a total of $18.3 million for his campaign.

The former speaker reported $1.8 million in the bank at the end of January -- with $1.7 million in debts, including $115,503 for web ads, and $7,500 to his daughter Jackie Cushman’s consulting firm.

Paul Fundraising

U.S. Representative Ron Paul of Texas took in $4.5 million in January and entered February with $1.6 million in the bank, his campaign announced. Paul has raised more than $30 million, second only to Romney. The campaign said on its website today that it has also raised more than $1.7 million so far this month.

Aides to Romney and Paul said in competing statements that their January fundraising proved that they were the only candidates with the financial ability and support to win the nomination.

“We are the only campaign who has the organization and resources to go the distance of a long primary process,” said Spencer Zwick, Romney’s national finance chairman.

Paul “is the only one prepared for an exhaustive 50-state campaign in terms of organization, ballot access, and fundraising stamina,” said Jesse Benton, national campaign chairman.

Obama Cash Advantage

The Republicans trail President Barack Obama in fundraising, though the Democratic incumbent is taking in money for both the primary campaign and the general election. Through Jan. 31, Obama raised $140 million, including $12 million last month, and had $76 million in the bank.

Texas Governor Rick Perry, who withdrew from the Republican presidential race Jan. 19 and endorsed former House Speaker Newt Gingrich, reported that he had $860,168 in the bank at the end of January. He has asked the FEC for permission to convert his campaign account to a political action committee. He raised $388,531 last month, bringing his total to $20.5 million.

Jon Huntsman, the former Utah governor and U.S. ambassador to China, lent his campaign another $50,000 on Jan. 4, 12 days before dropping out of the presidential race and endorsing Romney. He lent his campaign a total of $2.6 million while raising $3.8 million. He also reported other campaign debts of $2.6 million.

Former Louisiana Governor Buddy Roemer, the only Republican candidate seeking federal funds to help finance his campaign, raised $48,807, bringing his total to $393,839, including a $24,900 personal loan. He had $7,126 in the bank.

© Copyright 2022 Bloomberg News. All rights reserved.

Monday, 20 February 2012 09:30 PM
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