08 April 2015

'Eye-Popping', Unprecedented $31 Million Super-PAC Effort Backing Sen Ted Cruz for President in 2016...

by Matthew Boyle @ Breitbart

Super PACs backing Sen. Ted Cruz (R-TX) for president of the United States are taking in a “record haul” that is “eye-popping,” Bloomberg’s Mark Halperin writes.

“Ted Cruz’s presidential effort is getting into the shock-and-awe fundraising business,” Halperin wrote.

An associate of the Texas senator, a recently announced presidential candidate, tells Bloomberg that a cluster of affiliated super-political action committees was formed only this week, and among them they are expected to have $31 million in the bank by Friday. Even in the context of a presidential campaign cycle in which the major party nominees are expected to raise more than $1.5 billion, Cruz’s haul is eye-popping, one that instantly raises the stakes in the Republican fundraising contest.

The rate at which the outside Super PACs pulled in $31 million to back Cruz, Halperin wrote, “is remarkable” adding that there “are no known cases in which an operation backing a White House hopeful has collected this much money in less than a week.”

What’s more, Halperin notes, this $31 million off the bat in the first week of these Cruz Super PACs is just the beginning.

“Those involved in the Cruz super-PACS say many of his biggest financial backers haven’t yet made contributions to the new organizations and are expected to do so in the coming months. By law, super-PACS can accept unlimited contributions from individuals,” Halperin wrote...

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