WASHINGTON — American Crossroads, the Republican "super" political committee that plans to play a major role in this year's presidential campaign, raised more than $51 million along with its nonprofit arm last year, the Associated Press has learned.
The figures from Crossroads — the group backed by former George W. Bush adviser Karl Rove — were among the first financial reports being made public Tuesday, the deadline for super PACs and presidential candidates to file financial reports with the Federal Election Commission.
While most recent public attention has focused on groups spending major sums for negative TV ads assailing GOP presidential primary rivals Mitt Romney and Newt Gingrich, Tuesday's figures are a sign of even greater spending to come in the general election battle with Democratic President Barack Obama.
Other super PACs required to disclose their donors Tuesday include Restore Our Future, the Romney-leaning PAC that has contributed to a deluge of ads hammering Gingrich, and Winning Our Future, the Gingrich-supportive group that has been critical of Romney's time at a venture capital firm. Both super PACs are run in part by former advisers to the candidates.
The American Crossroads PAC has about $15.6 million cash on hand, according to its recent report from October through December 2011, representing only part of the money it has in the bank to spend on defeating Obama. Financial details from Crossroads GPS, the nonprofit arm, are unclear because it doesn't have to disclose its donors under IRS rules, although Crossroads GPS was responsible for most of the groups' fundraising haul.
The Crossroads war chests underscore the extraordinary impact super PACs could have on this year's race for the White House. In GOP primaries so far, groups working for or against presidential candidates have spent roughly $25 million on TV ads — about half the nearly $53 million spent on advertising so far to influence voters in the early weeks of the race.
Crossroads' financial reports identify wealthy donors who had given contributions reaching as high as seven figures by the end of 2011. Among the largest contributors is Dallas businessman Harold Simmons, who gave the group $5 million in November and whose holding company, Contran Corp., donated an additional $2 million.
Simmons is a major donor to GOP and conservative causes who pumped as much as $4 million into the "swift boat" campaign that helped sink Democratic presidential nominee Sen. John Kerry in 2004.
Super PACs are the products of a 2010 Supreme Court ruling that removed restrictions on corporate and union spending in federal elections. The groups can't directly coordinate with the candidates they support, but many are staffed with former campaign workers.
Few groups are likely to be as influential as American Crossroads, which plans to raise hundreds of millions of dollars this election cycle and enlists support from high-profile GOP figures such as former Mississippi Gov. Haley Barbour.