WSJ Report on McCain Funding

Sen. John McCain raised $62.3 million for his presidential bid in the second quarter in conjunction with the Republican National Committee, according to campaign-finance reports filed Tuesday night.

The campaign gathered most of the money using an unprecedented system that allows it to collect checks as large as $70,000 from an individual by parsing the money between the campaign, the national party and state committees in four states. That fund raised $41.2 million in the three-month period.

Campaigns are limited to a $2,300 contribution per individual, but political parties have much higher limits set by campaign-finance law. The $62.3 million figure doesn't include other monies raised directly by the McCain campaign.

[snip]

While President George W. Bush used his fund-raising prowess to raise money for House and Senate candidates in 2004, Sen. McCain seems to be keeping the bulk of the money for himself.[Emphasis added]

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