While President Obama currently enjoys a cash advantage over Mitt Romney, outside groups have helped the former Massachusetts governor narrow the gap in the race for money, according to reports.
Obama and the Democratic National Committee reported $139.3 million in cash on hand through the end of April, while Romney and the Republican National Committee reported $61.4 million in the bank, according to the Associated Press. While the numbers show that Obama still has a 2-to-1 cash advantage, that has narrowed from what was once a 10-to-1 cash advantage, according to the AP.
Indeed, a Politico analysis shows that super PACs, party committees and the campaign supporting Romney have raised about $402 million since the beginning of the election cycle, compared to $340 million for Obama and his backers.
Obama is also trailing on the super PAC front. Priorities USA Action, the pro-Obama super PAC, raised $1.6 million in April, the bulk of which came from labor groups. The pro-Romney super PAC, Restore Our Future, raised roughly $4.6 million, according to Politico.
Outside groups have also started pouring money into congressional races, The New York Times reports. Super PACs have spent at least $7 million on House races and $12.4 million on Senate races since the beginning of April.
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