10:45 am Aug. 6, 2012
Mitt Romney's campaign reported a combined haul of $101.3 million in July, the third straight month it has outraised President Obama's campaign.
It's the second consecutive month Romney has raised more than $100 million—he raised $106 million in June—with an uptick in small donors, after his early efforts came largely from big donations. In June and July, the campaign reported that about 94 percent of donations were $250 or less.
Obama was out-raised by about $17 million in May and by $35 million in June.
The July disparity increases Romney's financial advantage for the home stretch of the campaign. Romney has been outspent thus far, as the Obama campaign invested heavily in campaign infrastructure and an early ad offensive designed to frame Romney as an out-of-touch millionaire, while Romney has been forced to wait until the Republican convention to spend money that's earmarked for the general election.
But Romney's lack of spending has been offset by ads from well-funded Republican super PACs, and the campaign reported $185.9 million in cash on hand this morning.
The Obama campaign did not disclose its current cash on hand.