Although Sen. Scott Brown (R-MA) leads his opponent in cash on-hand by a large margin, Harvard Professor Elizabeth Warren (D) is catching up quickly, outpacing the Republican’s fundraising efforts during the last fiscal quarter and stepping it up even further last weekend with a “money bomb” that took in more than $50,000 per day.
With more than $6 million on-hand, Warren trails Brown significantly. Brown reported $12.8 million cash on-hand during the last round of disclosures, giving him a wide advantage.
But it’s all in the numbers for Warren, who significantly outpaced Brown in the final three months of 2011, pulling in $5.7 million during that time versus Brown’s $3.2 million.
At that rate, she’ll likely have a financial edge on Brown in another three to four months, or sooner if events like last weekend’s fundraising “money bomb” keep succeeding. Warren’s campaign said it raised over $118,000 in small pledges over just the last two days.
Warren, who’s never held elected office, helped President Barack Obama and the Democratic leadership craft the Consumer Financial Protection Bureau (CFPB), created by an act of Congress as a means of addressing the financial sector’s worst abuses following the economic crisis of 2008.
While she was the first choice to lead the CFPB, President Obama ended installing former Ohio Attorney General Richard Cordray head of the agency through a recess appointment, going over the heads of congressional Republicans who’d blocked a confirmation vote in the Senate.
Polling in December found Warren was leading Brown by about 4 percent, but still statistically tied with her Republican opponent due to the survey’s margin of error. A second survey found Warren winning by 7 percent, after an earlier sampling had shown Brown in the lead by 3 percent.