Giuliani leads GOP fundraising

Giuliani leads GOP fundraising
By Mike Dorning
Copyright © 2007, Chicago Tribune
Published July 14, 2007

WASHINGTON -- Republican presidential candidate Rudolph Giuliani established a financial advantage over his GOP rivals during the past three months, amassing a campaign treasury of $14.6 million for use during primaries.

Currently leading in national polling of Republicans, the former New York mayor both accelerated his fundraising to $17.5 million during the April-June quarter and distinguished his campaign by limiting expenses to $11 million, according to campaign disclosure documents filed Friday.

Republican Mitt Romney, the former governor of Massachusetts, reported $12.1 million in cash on hand.

Romney, a former businessman, spent more money than he raised during the second quarter, giving his campaign a $6.5 million loan from his personal fortune to cover the difference. He reported raising $14.1 million during the quarter and spending $20.5 million.

His biggest expense was an early advertising campaign mounted on national cable and on television and radio in such key early battleground states as Iowa and New Hampshire. He spent $4.9 million on the media campaign from April to June, up from $1.8 million during the first three months of the year.

Romney entered the campaign with considerably less name recognition than his major rivals. But his performance in the polls has crept up in Iowa and New Hampshire since the advertising campaign began.

Other presidential candidates have not established major broadcast advertising campaigns, although Democratic Sen. Barack Obama of Illinois began airing ads in late June.

Presidential candidates must file detailed disclosures of their contributions and expenses during the second quarter by midnight Sunday.

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mdorning@tribune.com