Mitt Romney to report raising up to $13 million, lower than previous quarter and 2008 pace
WASHINGTON – Republican presidential contender Mitt Romney is on pace to raise between $11 million and $13 million for the latest fund-raising quarter, a haul that would be much lower than the $18.2 million haul he brought in during the previous three months, according to a source familiar with the campaign’s finances.
Romney’s strong performance in a trio of recent debates had helped his fund-raising by motivating his existing supporters, but it was not enough to move some of the fence-sitters over to his camp, according to the source, who spoke on the condition of anonymity because the campaign has not publicly released its numbers yet.
With one day left before the fund-raising quarter ends, Romney has an event scheduled tonight at the Bethesda North Marriott Hotel, according to a copy of the invitation obtained by the Globe. He may potentially hold another fund-raiser tomorrow in Philadelphia, according to the source.
Romney aides have predicted that his top campaign rival – Texas Governor Rick Perry – will raise more than he will, even though Perry has been in the race for only six weeks.
Perry spokesman Mark Miner has declined to comment on their fundraising figures.
“The first reporting period is usually the best finance report for a campaign,’’ said Gail Gitcho, communications director for Romney. “We are going to raise considerably less than what we did in our first reporting period, but we will still meet our finance goals for this quarter.’’
The fund-raising quarter ends tomorrow, Sept. 30, although campaigns don’t have to file their reports with the Federal Election Commission until Oct. 15.
Representative Ron Paul, the Texas Republican, is planning to report at least $5 million, according to campaign manager Jesse Benton. Representative Michele Bachmann, the Minnesota Republican, is not planning to announce her figures before the Oct. 15 filing deadline, according to spokeswoman Alice Stewart.
Romney raised $18.2 million during the first fund-raising period after he announced his candidacy in the spring. That was far more than any of his rivals.
But it appears that Romney will be behind the pace that he set during his first presidential campaign, in 2008, when the former Massachusetts governor was relatively unknown on the national stage and was competing with a strong field of fundraisers.
It’s a signal either that the down economy is causing donors to contribute less, or that the GOP financiers are still not sold on Romney.
During the first six months of his last campaign, he raised $35 million and also loaned himself $8.8 million. During the first six months of this campaign, he appears on pace to raise about $31 million. The millionaire former venture capitalist hasn’t loaned himself any money during this campaign, and won’t do so this quarter, according to Gitcho.
Independent outside groups have also been raising money for both Romney and Perry and are expected to play a major role in the primary race. An outside group dedicated to helping Romney, Restore our Future PAC, reported raising $10 million during the first six months of this year.
The hosts for tonight’s $500-a-person fundraiser are brothers J.W. Marriott Jr. and Richard Marriott and their respective wives. Romney has longstanding ties to the Marriott family. His father George Romney was close with J.W. Marriott Sr., and Mitt Romney’s first name – Willard – comes from the hotel magnate.
J.W. Marriott Jr., his brother, and their wives were the largest contributors to Romney’s political action committees in recent years, giving some $230,000 to the Free and Strong America PAC between 2008 and 2010. More recently, the brothers each gave $500,000 to Restore Our Future PAC.
In between presidential campaigns, Romney also was a member of the hotel company’s board. He stepped down in January this year.
Richard Marriott told the Globe during an interview earlier this year that he contributes so much because he believes the country could use Romney’s business acumen. He also noted Romney’s family’s close relationship with the Marriott family, which stretches back more than 60 years.
“We’ve just been supportive of him,’’ Marriott said. “If he wants us to help out on certain things, then we’re willing to help.’’
Among the others on the host committee for tonight’s fund-raiser are James L. Connaughton, an energy industry lawyer and former environmental adviser to President George W. Bush; former US Senator Gordon Smith, of Oregon; and former US Senator Larry Pressler, of South Dakota.
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