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Monday, April 02, 2007

Obama Raising More than Clinton by $7m?

Many reports of this week indicate that Hillary Clinton raised more money than Barack Obama in the first quarter of 2007.  However there is a difference in the type of funds that they have raised.  Clinton has been taking funds for both the primary and the general election receiving end the maximum amount of money allowed by law from each of her contributors attended her events.  That amount set by law is $4600 and it includes half its allowed to go towards the primary and the other half that's allowed to go towards the general election.

Obama the other hand only took in $2300 per contributor.  That means that his funds are destined for the primary and not for the general election.  He raised $20 million and Clinton raised $26 million.  Now Clinton did receive an additional funds from lobbyists and special interest groups and Obama did not.  So if we look at just the contributions, it appears that Obama may have raised more money than Hillary by at least $7 million.  That number would be even higher if we excluded contributions from lobbyists and other special interest groups that gave the Clinton.

People involved in Democratic fundraising noted that many of Clinton's events required a contribution of $4,600 for access to the senator and other VIPs. That is the maximum amount allowed for an individual to donate by law, with half going for the primary and half for the general.
Obama, on the other hand, mostly sought donations of up to $2,300, which means the bulk of his take this quarter will be available for the primary campaign. Obama also made his fundraising task more difficult by refusing to accept money from lobbyists and political action committees, unlike Clinton.

Source: Dems raise historic sums | Chicago Tribune

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