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Fund raising for midterm races sets record
WASHINGTON (CNN) -- The Democratic and Republican parties have spent far more money on 2002 races than on any midterm election in history, with the national Republican Party leading Democrats by a wide margin, according to a federal report. Between January 1 and October 16, the two parties collected $416 million in direct contributions to candidates, known as "hard money," the report by the Federal Election Commission said. It was a jump of 43 percent from the last midterm elections in 1998. Republicans raised $289 million and Democrats $127 million, "continuing a pattern seen throughout the period since the FEC began receiving financial reports," the report said. The two parties spent nearly all of that, with only $6 million remaining on hand between both parties as of October 16. Much of the money collected went to state and local committees in states with key gubernatorial or congressional races. Florida -- where the president's brother, Gov. Jeb Bush, is running for re-election -- drew more from the Republican Party than any other state. National GOP committees have sent at least $9 million to state and local GOP committees in Florida. Democrats, meanwhile, have taken aim at the president's home state of Texas, where they're vying for an open Senate seat and supporting gubernatorial candidate Tony Sanchez. National Democratic committees sent at least $8.8 million to the party's state and local committees. Both parties also sent more than $8 million each to Minnesota, where Republican Norm Coleman was seeking to unseat Democratic Sen. Paul Wellstone until his death in an October 25 plane crash. Coleman now faces Walter Mondale for the seat. The FEC report also said "soft money" activity by the parties -- unlimited contributions from businesses, unions, and other groups -- more than doubled from 1998. The soft money figures were more even. Republican committees reported receipts of $222 million in soft money; Democrats reported $200 million. Soft money contributions have been allowed for party activities such as get-out-the-vote drives, but new campaign finance laws bar national parties from collecting soft money donations after Tuesday's election. Typically, political parties collect more money for campaigns in presidential election years. Total hard money collections by the national parties this year were down about $60 million from 2000, but the amount of hard money spent went up slightly. Soft money collections went up $12 million from 2000. The FEC report, released last week, does not include money gathered in the final three weeks before the election.
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