Kerry's Fundraising Total Reaches $182 Million
By Thomas B. Edsall and Dan Balz
Washington Post Staff
Writers
Friday, July 2, 2004; Page A07
Sen. John F. Kerry (D-Mass.) announced yesterday that his fundraising
continues to break records, bringing in at least $34 million in June to push the
total for his presidential campaign to $182 million or more. While still behind President Bush, who reported raising $214.8 million
through the end of May, Kerry during the past four months has been raising money
at a faster pace than Bush. Kerry campaign manager Mary Beth Cahill said in a statement that small
donations have produced a total of $100 million. She contended that "the
strength of the small donor has helped level the financial playing field with
the Bush campaign." Bush campaign spokesman Scott Stanzel declined to estimate how much the
campaign raised in June, but, he said, there was about $64 million in the bank
Wednesday. The Kerry campaign had $28 million at the end of May but could not
provide an estimate of the current cash level. In a separate development, Kerry's list of potential vice presidential
nominees shrank by one yesterday when New Mexico Gov. Bill Richardson formally
withdrew his name from consideration. Richardson had met with Kerry in Phoenix
on Tuesday night to discuss the job. Richardson spoke by phone with Kerry and later sent a letter of withdrawal.
In the letter, he said that when he ran for governor in 2002, he made a pledge
to the people of New Mexico to serve a full term. "I need to honor that pledge,"
he said. "While we don't comment on who may or may not be in the vice presidential
search process, John Kerry has the utmost respect for Governor Richardson and
his abilities as a leader, both nationally and in New Mexico," campaign
spokeswoman Stephanie Cutter said. Richardson's withdrawal came as speculation about the search mounted. An
announcement is expected early this month. Some Democrats say it could come as
early as next week. Kerry begins a three-day bus tour through the Midwest today and will spend
the holiday Monday hosting a barbecue party with his wife, Teresa Heinz Kerry,
at their farm near Pittsburgh. Kerry's campaign has begun to assemble a team to help manage the vice
presidential candidate's operation, headed by Peter Scher, a Washington lawyer
who served in the Office of the U.S. Trade Representative in the Clinton
administration. Kerry has been discreet in his deliberations, shielding those under
consideration from public exposure. Much of the public discussion has been on
Sen. John Edwards (N.C.), Rep. Richard A. Gephardt (Mo.) and Iowa Gov. Tom
Vilsack. But sources said several others still figure in Kerry's thinking. That
group may include Sens. Bob Graham (Fla.), Joseph R. Biden Jr. (Del.) and
Richard J. Durbin (Ill.), among others. Kerry's June fundraising total underscored the significance of his decision
to opt out of public financing for the primaries -- and of the financial return
of wrapping up the nomination in early March. The Democratic National Committee issued a comparison of Kerry's fundraising
with operations in earlier contests to demonstrate the benefits of DNC Chairman
Terence R. McAuliffe's efforts to move up the primaries, allowing Kerry to lock
up the nomination on March 2. In late June 1992, for example, Bill Clinton owed
more than $4 million and had less than $200,000 in the bank. This month will mark the end of Kerry's primary fundraising efforts. On July
29, he is expected to accept the Democratic nomination at the party convention
in Boston. After that, his campaign will be financed by a $75 million grant from
the federal government, and he will not be allowed to raise money privately. The more money Kerry raises, the larger the surplus he is likely to have upon
receiving the nomination. Kerry lent his campaign $6.4 million by mortgaging his
half of his Beacon Hill home. Under a provision of the 2002 McCain-Feingold law known as the "millionaire's
amendment," Kerry will have 20 days after getting the nomination to decide
whether to pay himself back. If not settled after 20 days, the loan becomes a
contribution and cannot be paid back. Kerry is likely to face pressure from fellow Democrats and campaign
strategists to transfer any surplus campaign money to the DNC and to state
parties.