For Their Efforts, Fundraisers Also Gain
President Bush's reelection campaign yesterday reported raising $49.5 million in the third quarter, a decisive record for a three-month period. Since launching his fundraising effort in May, Bush has collected $83.9 million.
The record receipts -- more than triple the top Democrat's fundraising for the quarter -- were driven in large part by just 285 men and women, who collected $38.5 million or more, which was at least 45 percent of Bush's total take. This fundraising elite, many of whom were beneficiaries of Bush administration policies, included 100 "Rangers," who raised at least $200,000 apiece, and 185 "Pioneers," who collected at least $100,000 each.
Such high-powered fundraisers have become crucially important in the current election cycle because the 2002 McCain-Feingold campaign finance law prohibits individuals, companies and unions from giving large "soft money" contributions to federal candidates or parties. This has put a premium on men and women who can collect large amounts from individuals, who can give no more than $2,000 apiece.
The GOP, with extensive support from corporate chief executives, trade association leaders and others with a ready network of employees, members or associates, has developed a far stronger small-donor fundraising base than the Democrats. Former Vermont governor Howard Dean has demonstrated the potential power of the Internet as a fundraising tool, but the $14.8 million he is expected to report for the third quarter is dwarfed by Bush's total.
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http://www.washingtonpost.com/wp-dyn/articles/A27000-2003Oct14.html