There is a light for Mitt Romney at the end of the tunnel. This past month Mitt Romney, The Romney Victory Fund and the Republican National Committee raised more than $76.8 million dollars in May. All together the three organizations have more than $107 million dollars cash on hand. President Obama and the Democrats raised about $17.6 million dollars less during the same time period.
It has widely been assumed with President Obama’s massive fundraising abilities that he would enjoy a nice advantage in cash on hand for at least the opening months of the campaign. Romney is on track to close that gap much earlier than originally thought.
Romney’s massive May is in addition to the more than $40 million dollars that he brought in April. Romney’s campaign has more than $61 million dollars cash on hand. The Romney Victory Fund is a joint fundraising organization between the Republican National Committee and The Romney Campaign. The Victory Fund allows donations up to $75,000.
To show the true depth of Romney’s fundraising ability, during May of the 2008 campaign John McCain had barely raised more than $20 million dollars.
Romney’s campaign said that 93% of the money raised was from donations of less than $250. These donations only accounted for $12 million out of the $76 million dollars raised.
While the conventions have not yet been held Romney is the presumptive nominee of the Republican Party to face President Barack Obama in November. President Obama has said that his goal is to raise and spend more than $1 billion dollars to ensure that he wins reelection.