Newt Gingrich Finds Trouble in Raising Campaign Funds

Apr 27, 2011, 07:11 by David Hope

Newt Gingrich is lagging in fundraising for a U.S. presidential run, his financial reports show.

The former U.S. House speaker's American Solutions political action committee took in only $53,000 in the first three months of this year, Politico reported Wednesday, citing a report it filed with the Federal Election Commission Tuesday night.

American Solutions for Winning the Future, Gingrich's 527 committee which is not regulated by the FEC, has raised tens of millions, but those funds cannot be spent directly on a campaign.

The PAC has raised $790,000 since being created in late 2009, while the 527 took in $13.7 million in 2010 alone; it does not need to report its 2011 figures until July.

If he declares a candidacy, Gingrich will be forbidden to raise money for or spend from any entity other than an FEC-registered presidential campaign committee.

Source: UPI