By Michael Kranish, Globe Staff, April 16, 1999
WASHINGTON -- In the first big test of the nascent presidential campaign, Texas Governor George W. Bush overpowered his Republican rivals by bringing in $7.6 million in just 28 days, while Democrat Bill Bradley showed surprising financial strength in his bid against Vice President Al Gore.
Bradley clearly has benefited from the absence of other challengers to Gore, and it may enable the former New Jersey senator to make good on his vow to give the vice president a serious run.
While Gore tapped his years of fund-raising prowess to bring in $8.9 million, Bradley, never known as a big financial draw, showed strength by taking in $4.3 million, according to first-quarter contribution reports filed yesterday with the Federal Election Commission.
Moreover, Bradley's success was augmented by a New York City fund-raiser last night that was expected to draw 1,200 donors. Bradley should have enough cash to compete at least through the early primaries and caucuses, and this year he could raise even more than the $15 million to $20 million that he originally expected.
"These are the first returns from the first primary, which is the fund-raising primary," said Larry Makinson, executive director for the nonpartisan Center for Responsive Politics. "Bush is beginning to look like a juggernaut with the enormous amount of money he raised in a short period of time, and Bradley's figure is surprisingly strong."
Bush, still in "exploratory" mode, may soon become a full-fledged candidate.
"This is the first indication that there is real solid support," Bush said yesterday. Bush also proved to be a careful spender, with $6.7 million cash on hand and debts of only $16,333.
Bush's closest financial rival was Senator John McCain of Arizona, who received $3.8 million, but his total was inflated by a $2 million transfer from his Senate campaign. McCain spent $1 million, and has $534,402 in debts. Former Vice President Dan Quayle took in $2.1 million, but he spent so much on fund-raising that his debts were $175,000 greater than his cash on hand.
Elizabeth Dole, another much-publicized and undeclared candidate, had far less success than Bush. Dole, who has never run for political office before, raised $685,253 in 21 days. She spent $108,210.
Early effective fund-raising is considered a key factor in determining which candidates will do well in the primaries, especially with next year's compressed schedule. But money is not enough, as Bush knows from watching his fellow Texan, Republican Senator Phil Gramm, who was a prolific fund-raiser in the 1996 campaign yet failed to make it to the New Hampshire primary.
Federal law required that the campaigns mail their quarterly reports yesterday, but there was wide disparity in the release. Bush immediately released the names of all 23,000 donors on his Internet site, while some other candidates just mailed their reports to the Federal Election Commission.
These are some of the highlights of reports issued yesterday: