Ted Cruz Super-PACs Take in Record Haul

Bloomberg reports that a cluster of affiliated super-political action committees was formed only this week to support Sen. Ted Cruz’s presidential campaign “are expected to have $31 million in the bank by Friday.”

“Even in the context of a presidential campaign cycle in which the major party nominees are expected to raise more than $1.5 billion, Cruz’s haul is eye-popping, one that instantly raises the stakes in the Republican fundraising contest… There are no known cases in which an operation backing a White House hopeful has collected this much money in less than a week.”

“Those involved in the Cruz super-PACS say many of his biggest financial backers haven’t yet made contributions to the new organizations and are expected to do so in the coming months. By law, super-PACS can accept unlimited contributions from individuals.”