An associate of the Texas senator, a recently announced presidential candidate, tells Bloomberg that a cluster of affiliated super-political action committees was formed only this week, and among them they are expected to have $31 million in the bank by Friday.
Even in the context of a presidential campaign cycle in which the major party nominees are expected to raise more than $1.5 billion, Cruz’s haul is eye-popping, one that instantly raises the stakes in the Republican fundraising contest.
Although super-PACs have radically changed the pace at which committees backing presidential candidates can raise money, the Cruz haul is remarkable. There are no known cases in which an operation backing a White House hopeful has collected this much money in less than a week.
Those involved in the Cruz super-PACS say many of his biggest financial backers haven’t yet made contributions to the new organizations and are expected to do so in the coming months. By law, super-PACS can accept unlimited contributions from individuals.
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