Presidential election hits $2B fundraising mark

Presidential election hits $2B fundraising mark

Presidential election hits $2B fundraising mark

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Associated Press

Posted on October 26, 2012 at 1:01 AM

Updated Friday, Oct 26 at 5:30 PM

WASHINGTON (AP) — The 2012 presidential campaign has passed the $2 billion mark in fundraising, fueled by an outpouring of cash from both ordinary citizens and the wealthiest Americans hoping to influence the selection of the country's next leader.

The eye-popping figure puts the election on track to be the costliest in modern U.S. history. It comes amid a campaign finance system vastly altered by the proliferation of "super" political committees that are bankrolling a barrage of TV ads in battleground states.

Fundraising reports submitted Thursday night show that President Barack Obama and Republican challenger Mitt Romney have brought in about $1.7 billion so far total.

Added to that: nearly $300 million in donations involving super PACs and tens of millions more going to nonprofit groups that don't have to disclose their donors.

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