June 4, 2012 12:13 am
[h=4]Share with others:[/h]
By Seema Mehta and Melanie Mason / Los Angeles Times
LOS ANGELES -- Mitt Romney and President Barack Obama are spending a lot of time in California these days, and their well-worn paths illustrate the most important thing the state has to offer their campaigns for the White House: money.
Mr. Obama will hit San Francisco and Beverly Hills in a quick fundraising trip this week, locales that rank high on his list of major donors. The Beverly Hills gala on Wednesday, headlined by the singer Pink, and a dinner the same evening could raise as much as $10 million.
The former Massachusetts governor spent much of last week raising millions in GOP enclaves such as Del Mar, Newport Beach, Riverside and the Central Valley, as well as the wealthy communities of Beverly Hills and Hillsborough in the Bay Area.
Californians already have contributed $60 million to the president and his Republican rival, according to federal disclosure reports of donations through April 30. Mr. Obama has taken in $49 million of that largesse, in donations to his campaign and assorted party groups. (As the incumbent, he has been able to take advantage of higher donation levels than Mr. Romney, who just recently saw his fundraising targets rise.)
The state and its wealthy donors have always served as a source of bounty for national politicians, who spend years cultivating individual donors before the pinnacle of national contests.
The donors get access to power, for a price. What they don't get -- given the state's strongly Democratic tilt -- is a chance to see their dollars in action in California. Their millions will be spent on campaign operations in Chicago and Boston, advertising in battleground states such as Ohio and Iowa, and get-out-the-vote efforts in states such as Nevada and North Carolina.
"Both in terms of money and time and resources, Californians know the majority of what they contribute, those efforts or dollars or phone calls, are probably going to be applied elsewhere," said Ken Solomon, chief executive of the Tennis Channel and co-chairman of Mr. Obama's Southern California fundraising effort.
"Most people understand it's not just for us, it's for a greater good."
Donations by industry also vary greatly, and split along traditional Democratic and Republican lines. Mr. Obama has raised 16 times as much money as Mr. Romney from the entertainment industry in California, according to an analysis by the Center for Responsive Politics. Mr. Romney has raised substantially more money than Mr. Obama from donors involved in agriculture and the financial sector.
Candidates can raise a total of $5,000 per person for their personal campaign coffers, and looking solely at those numbers, Mr. Romney and Mr. Obama are close -- the president has raised nearly $13 million from Californians, while the GOP challenger has raised $11 million.
Yet the bulk of Mr. Obama's fundraising has occurred through a "victory fund" -- a joint fundraising committee of his campaign, the Democratic National Committee and an additional federal account -- that can raise $75,800 per donor over a two-year cycle.
First Published June 4, 2012 12:00 am
To report inappropriate comments, abuse and/or repeat offenders, please send an email to [email protected] and include a link to the article and a copy of the comment. Your report will be reviewed in a timely manner. Thank you.
[h=4]Share with others:[/h]
By Seema Mehta and Melanie Mason / Los Angeles Times
LOS ANGELES -- Mitt Romney and President Barack Obama are spending a lot of time in California these days, and their well-worn paths illustrate the most important thing the state has to offer their campaigns for the White House: money.
Mr. Obama will hit San Francisco and Beverly Hills in a quick fundraising trip this week, locales that rank high on his list of major donors. The Beverly Hills gala on Wednesday, headlined by the singer Pink, and a dinner the same evening could raise as much as $10 million.
The former Massachusetts governor spent much of last week raising millions in GOP enclaves such as Del Mar, Newport Beach, Riverside and the Central Valley, as well as the wealthy communities of Beverly Hills and Hillsborough in the Bay Area.
Californians already have contributed $60 million to the president and his Republican rival, according to federal disclosure reports of donations through April 30. Mr. Obama has taken in $49 million of that largesse, in donations to his campaign and assorted party groups. (As the incumbent, he has been able to take advantage of higher donation levels than Mr. Romney, who just recently saw his fundraising targets rise.)
The state and its wealthy donors have always served as a source of bounty for national politicians, who spend years cultivating individual donors before the pinnacle of national contests.
The donors get access to power, for a price. What they don't get -- given the state's strongly Democratic tilt -- is a chance to see their dollars in action in California. Their millions will be spent on campaign operations in Chicago and Boston, advertising in battleground states such as Ohio and Iowa, and get-out-the-vote efforts in states such as Nevada and North Carolina.
"Both in terms of money and time and resources, Californians know the majority of what they contribute, those efforts or dollars or phone calls, are probably going to be applied elsewhere," said Ken Solomon, chief executive of the Tennis Channel and co-chairman of Mr. Obama's Southern California fundraising effort.
"Most people understand it's not just for us, it's for a greater good."
Donations by industry also vary greatly, and split along traditional Democratic and Republican lines. Mr. Obama has raised 16 times as much money as Mr. Romney from the entertainment industry in California, according to an analysis by the Center for Responsive Politics. Mr. Romney has raised substantially more money than Mr. Obama from donors involved in agriculture and the financial sector.
Candidates can raise a total of $5,000 per person for their personal campaign coffers, and looking solely at those numbers, Mr. Romney and Mr. Obama are close -- the president has raised nearly $13 million from Californians, while the GOP challenger has raised $11 million.
Yet the bulk of Mr. Obama's fundraising has occurred through a "victory fund" -- a joint fundraising committee of his campaign, the Democratic National Committee and an additional federal account -- that can raise $75,800 per donor over a two-year cycle.
First Published June 4, 2012 12:00 am
To report inappropriate comments, abuse and/or repeat offenders, please send an email to [email protected] and include a link to the article and a copy of the comment. Your report will be reviewed in a timely manner. Thank you.