Romney PAC Has Highest Burn Rate, But Leads Palin and Pawlenty in Cash
Mitt Romney’s PAC is burning through money — the PAC reported a 78 percent overall burn rate as of Dec. 31 — but he has plenty of cash to spare. Romney’s PAC reported $1,125,375 cash on hand as of Dec. 31, beating out both Sarah Palin’s SarahPAC and Gov. Tim Pawlenty’s (R-Minn.) Freedom First PAC in cash available, according to reports filed with the Federal Election Commission.
Romney has raised a total of $3,565,311 and spent $2,777,912, since he first formed his PAC months after exiting the presidential race in 2008.
Pawlenty only formed his PAC in October 2009, so his totals were expected to be less robust than the those of Palin and Romney (who recently vied for vice president and president, respectively). Pawlenty’s burn rate was just about 31 percent overall and he reported $884,075 on hand. He raised $1,279,906 and spent $395,831 total through Dec. 31.
Since SarahPAC was first formed in Jan. 2009, the committee has raised $2,132,119, spent $1,203,782 and reported $928,337 on hand as of Dec. 31.
While most of SarahPAC’s money was spent on consulting, fundraising and other typical campaign expenditures, the committee reported spending tens of thousands on photographs, books and trinkets in the last half of the year. SarahPAC spent $13,668 on photos, $63,498 on books, $6,455 on t-shirt design and printing and nearly $3,000 on pens and rubber bracelets in the latter six months of 2009. These and other items contributed to SarahPAC’s overall burn rate of 56 percent.
Julissa Treviño contributed research to this post.