You are currently viewing the printable version of this entry, to return to the normal page, please click here.

Bain Capital is largest NRCC donor

← return to Inside Politics

Bain Capital, Mitt Romney’s former firm, was the top employer among donors to the National Republican Congressional Committee (NRCC) in September, underscoring the extent to which Mr. Romney’s associates in the financial sector are financing not just his presidential bid, but the gamut of Republican activities.

The NRCC raised $12 million last month, one-third of which came from corporate PACs and $1 million of which came from small donors giving $200 or less. The rest came from people giving up to $35,000 each to the party committee, including $4.5 million that was raised through a partnership with the Romney presidential campaign, Romney Victory.

Nearly $200,000 came from employees of Bain Capital, far more than any other group. Five executives with W.L. Wilson Mining Exploration giving $60,000 ranked second, filings showed Tuesday.

Mr. Romney’s reliance on wealthy donors has meant that much of the fundraising haul his campaign has been touting won’t actually be controlled by his campaign. This week, the campaign announced raising $170 million in September, but The Washington Times found that more than half of that money came from people giving $10,000 or more to the Victory Fund.

The Victory Fund cash is allocated to the Romney campaign; the Republican National Committee, which can work to elect Mr. Romney, but largely cannot coordinate with him; the House and Senate party committees; and four state GOP committees that can also independently work to elect Mr. Romney.

Those restrictions pose complications for the campaign in that some of the money will be simply unavailable to Mr. Romney, and other parts of the haul can be spent, but not in a streamlined, coordinated fashion.

Yet Tuesday’s filings make one thing clear: Money is money, and the money Mr. Romney is bringing in will work to elect Republicans in close House and Senate races, as is the goal of the NRCC and its Senate counterpart.

← return to Inside Politics

About the Author
Comments
blog comments powered by Disqus
Happening Now