THE RACE TO THE WHITE HOUSE
More Funds Raised in Bid to Beat Bush
Independent groups set up by Democratic insiders collected more than $20 million in the first quarter of 2004, IRS records show.
By Lisa Getter, Times Staff Writer
WASHINGTON — Fueled by money from Hollywood, unions and wealthy executives, the largest independent groups raising money to defeat President Bush in November collected more than $20 million in the first quarter of 2004, according to records released by the IRS.
The groups, set up by Democratic insiders and known as 527s because of the tax code that governs them, have collected about $37 million since last year. But they are still far short of their goal, now estimated at $145 million.
A group of three interconnected 527s — America Coming Together, the Media Fund and Joint Victory Campaign 2004 — have collected about $20 million this year to spend on the November elections. The groups have been spending millions of dollars on television advertising in the 17 battleground states where the race for president is expected to be toughest....
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MoveOn.org Voter Fund, another 527 that has been running anti-Bush ads, has collected most of its money ($4 million so far this year) from ordinary Americans. PoliticalMoneyLine has counted 3,084 donors to MoveOn 527 since Jan. 1....
http://www.latimes.com/news/politics/la-na-independents20apr20,1,4060109.story?coll=la-home-politics