On Monday, the Romney campaign confirmed they exceeded their previous fundraising record by bringing in a staggering $106 million in June. The amount includes funds for his presidential campaign and also for the Romney Victory Fund, an account controlled by the Republican National Committee.
Political analysts credit the U.S. Supreme Court's decision on the Affordable Care Act as part of Romney's fundraising success, noting that $5.5 million was raised within 24 hours after the decision was announced.
The six-digit haul – averaging $3.5 million per day – leaves the campaign with more than $160 million cash on hand, much of which will likely be used to combat the Obama campaign's aggressive ad campaign that has begun to air in key swing states such as Ohio, Florida and North Carolina.
Last week, while traveling through Ohio on his recent bus tour, President Obama tried to warn supporters that the Romney campaign was being funded primarily by wealthy billionaires who were intent on running a slew of negative campaign ads in an attempt to undermine his economic accomplishments of the last three years.
However, the Romney campaign flatly rejected the accusation.
"While the Obama campaign would have you believe that they have been outspent, it's just not the case," wrote Romney spokesperson Andrea Saul in an email. "Besides the fact that we are facing off against an incumbent president who has been able to fully engage in a fundraising battle this entire campaign, as we could not, we are only allowed to spend primary dollars from now through the convention."
"Obama had no primary opponent, so could use all the money he raised for the primary against Gov. Romney," said Saul. "By contrast, Gov. Romney had to wage a long and expensive campaign using precious primary dollars that could not be replenished after he won."
Yet raising such large amounts of cash does not come easily, even for the most aggressive campaigns. During the 30 days of June, Romney attended 20 finance events of which $15 million was raised during a fundraising swing through Texas. Romney's single biggest day came on June 20 when he raised $8 million in several fundraisers in his home state of Michigan.
Romney's finance team was also quick to point out 94 percent of all donations received in June were $250 or less. Contributions from smaller donors are seen as a way to gauge the enthusiasm level of the average voter.
"This month's fundraising is a statement from voters that they want a change of direction in Washington," said Romney Victory Finance Chairman Spencer Zwick in a written statement. "Voters of all stripes – Republicans, Independents, and Democrats – have made it clear that President Obama has not lived up to the promises of his last campaign."
Las Vegas businessman Bill Brady owns companies who distribute hotel cleaning supplies and was one of the donors who have recently made sizable contributions to Romney's Restore Our Future PAC.
"We don't know where President Obama is going," Brady told USA Today. "But I have great confidence that the business community will be understood by President Romney."
The Obama campaign released their June fundraising totals Monday afternoon, reporting $71 million in total contributions to all committees.