Occasional Reports, Notes and Commentaries on the Road to the White House
FEC Reports: Feast and Famine
by Eric M. Appleman
|Total Disburse Year-to-Date|
|July 21, 1999--Although
the year is only half way through, the money primary appears to be over.
Reports submitted to the Federal Election Commission show that Texas Gov.
George W. Bush's campaign brought in a record-breaking $29.7 million in
the second quarter, a sum greater than that raised by all the other GOP
presidential candidates combined. Bush's fundraising success has
left a number of the Republican campaigns gasping for cash. Rep.
John Kasich bowed out on Wednesday (July 14) and the campaigns of Lamar
Alexander and Dan Quayle appear vulnerable if they do not obtain a strong
boost from the straw poll to be held in Ames, Iowa on August 14.
Bush also announced that he will forego federal matching funds for the primaries, meaning that he will be unconstrained by spending limits during the primary contests. Bush's decision on matching funds drew criticism from several of his rivals. Lamar Alexander, in Iowa, stated, "Governor Bush's decision to ignore the spending limits--to try and buy the nomination, may lead to the end of the Iowa Caucuses as we know them." Sen. John McCain, in a statement, noted that in 1984 Ronald Reagan was in a position to have taken the route of no matching funds, but decided to abide by the limits. "Governor Bush may be unintentionally adding to the already widespread cynicism of the American people regarding the influence of special interest money in politics," McCain stated.
On the Democratic side, former Sen. Bill Bradley nearly equalled Vice President Gore's total for the quarter, raising $7.4 million to Gore's $8.6 million. Significantly, Bradley has kept in the ballpark with Gore in terms of cash on hand, reporting $7.5 million to Gore's $9.4 million.
ordered by Second Quarter receipts
Not only has the campaign brought in unprecedented sums, but campaign manager Joe Allbaugh has kept a tight rein on expenditures. As a result, the campaign has built up a war chest of more than $30 million. Disbursements in the quarter were $6.4 million, including salaries and a significant amount for air charters.
Bush did so well in the second quarter that on July 15 he announced his decision to forego matching funds in the primaries. In a statement Bush said he made the decision to ensure "strategic flexibility in my campaign." "I want to be in a position to respond and plan according to needs, especially in key early states such as Iowa and New Hampshire," Bush stated. By declining matching funds, Bush will be unconstrained by spending limits during the primaries. He will thus be free to respond to any attacks that may materialize from the Forbes campaign or other quarters, and he can take steps to lay the groundwork for a successful fall campaign.
Forbes 2000, Inc.--The Forbes campaign spent the most of any presidential campaign in the second quarter. The $8.3 million included more than $2.3 million to John McLaughlin & Assoc. for media buys (Forbes launched a major media campaign on June 2), almost $190,000 to Hensley, Segal, Rentschler, Inc., the Cincinnati firm that is doing the campaign's web site, and payroll for a large campaign staff. For the year, Forbes has put $6.6 million of his own money into the campaign (about 70%) and raised contributions totalling $2.8 million (30%).
Elizabeth Dole for President Exploratory Committee, Inc.--The Dole campaign raised $2.8 million in the quarter, an amount which it noted was second only to Bush among the GOP candidates. After disbursements of $1.7 million, the campaign finished the quarter with cash on hand of $1.8 million and net debts and obligations of a little less than half a million dollars.
McCain 2000, Inc.--The McCain campaign raised $2.5 million and spent $2.6 million in the second quarter. McCain finished the quarter with a respectable $2.6 million in cash on hand and net debts and obligations of $643,780.
Bauer for President 2000, Inc.--The Bauer campaign raised $2.1 million and spent $2.2 million in the second quarter. Bauer finished the quarter with cash on hand of $344,426 and net debts and obligations of $663,676. According to the Center for Responsive Politics, the Bauer campaign has received the highest percentage of funds from female donors of any of the major Republican and Democratic presidential campaigns during both the first and second quarters.
Buchanan 2000, Inc.--The Buchanan campaign reported second quarter receipts of $1.9 million and disbursements of $1.7 million.
Quayle 2000, Inc.--The Quayle campaign raised $1.4 million and spent $1.8 million in the quarter. Receipts include a candidate loan of $45,000. With only $128,750 in cash on hand at the end of June, and with net debts and obligations of $628,930, the Quayle campaign is in a very tight position. National finance director and deputy finance director Liesel Hickey left in June. Quayle does have one of the more interesting effort to raise small contributions through his web site. His 21st Century Club asks people to contribute $21 and recruit ten of their friends to do the same.
Alexander for President, Inc.--The Alexander campaign reported cash on hand of $90,751 and net debts and obligations of $231,358 at the end of the quarter, putting it in a precarious position. The campaign raised and spent a bit less than $1.8 million in the quarter.
Bob Smith for President Committee Inc.--The Smith campaign reported total receipts of $1.3 million in the quarter and total disbursements of less than $1 million, leaving it with $391,784 in cash on hand. Sen. Smith announced he was leaving the Republican party to become an independent on July 13, but this report covers monies raised and spent as a Republican candidate.
Kasich 2000--The exploratory committee, which had not filed in the first quarter, filed a report covering the period from January 1-June 30. The report showed total receipts of $3.1 million, including the transfer of $1.4 million from his congressional campaign committee. Kasich reported cash on hand of $1.9 million at the end of June. He ended his exploratory effort on July 14.
Keyes 2000, Inc.--The Keyes exploratory committee only filed organizational papers with the FEC in June. Keyes' report, covering the period from when the committee was formed in 1997 to June 30, 1999, shows total receipts of $1.9 million and total disbursements of $1.7 million.
Bill Bradley for President--The Bradley campaign raised $7.4 million in the second quarter and spent $2.8 million, finishing with $7.5 million in cash on hand. The campaign notes that since January it has received over $240,000 in contributions through its web site. However, most of the campaign's money is coming from large contributors. According to the Center for Responsive Politics, for the year only $299,710 of the $11.7 million total the campaign has raised has come in contributions of less than $200--at 2.6% of total funds raised that is the lowest percentage of any of the major Democratic and Republican candidates.
|Receipts Jan. 1-June 30, 1999
millions of dollars