Monday, August 20, 2012

Pro-Romney super PAC spent more than it raised in July


The super PAC supporting Mitt Romney’s presidential campaign last month continued its brisk spending, but saw a drop-off from in fundraising — finishing July spending more than it raised.
Restore Our Future spent $8.2 million last month, while pulling in $7.5 million, according to a report filed Monday evening with the Federal Election Commission. Most of the cash it spent – $7.2 million – went towards television and online ads supporting Romney, compared to only $887,000 on ads that primarily attacked President Barack Obama.
It’s the first time Restore Our Future has had such a high burn rate since the heat of the Republican primary, when it spent more than $12 million per month between the first of the year and the end of March helping to dispatch Rick Santorum and Newt Gingrich.
While Restore Our Future’s fundraising dipped from its record $20.7-million June haul, it did report big donations from a mix of new and renewing donors.
The biggest donation came from Houston homebuilder Bob Perry, who donated $2 million – bringing his total contributions to $8 million, not including the $4.5 million he’s given to American Crossroads, another super PAC supporting Romney.
The Renco Group, Inc., a company controlled by New York investor Ira Rennert, gave $1 million – the first donation by either Rennert or the company to a super PAC in 2012. Renco owns mines and mills in the U.S. and South America, including some that have been accused of massive pollution. According to Crain’s New York Business, the Justice Department in 2001 called a magnesium company Rennert owned the nation’s top polluter.
Other big donors included the Larry H. Miller Group of Companies, which gave $787,000, bringing their total to nearly $1 million. The companies were named for and owned by the late owner of the NBA’s Utah Jazz, who died in 2009.

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