McFadden’s senate campaign raises $700K in first month

WASHINGTON – Republican U.S. Senate candidate Mike McFadden reports his campaign has raised more than $700,000 in its first month as he attempts to unseat one-term DFLer Al Franken. McFadden’s campaign did not respond to requests for information about how much cash it had available as of June 30.

Republican businessman Mike McFadden announces that he will run against Democratic Sen. Al Franken in 2014 during a news conference Wednesday, May 29, 2013 at the State Capitol. (MPR Photo/Jennifer Simonson)

The announcement comes ahead of a July 15 Federal Election Commission deadline for campaigns to announce their fundraising. McFadden’s  fundraising haul in one month is much stronger than last year’s GOP Senate candidate, former state Rep. Kurt Bills. That campaign only raised $953,000 in all of 2012 for Bills’ ill-fated run against U.S. Sen. Amy Klobuchar, which ended with Klobuchar’s 35-point victory over Bills.

McFadden is the co-CEO of Lazard Middle Market, a financial services firm. According to a campaign spokesman, McFadden and his wife contributed $10,400 to the campaign, the maximum permitted under law. The pair could also legally make a loan to the campaign but have not done so.

Franken’s campaign has not yet announced its most recent fundraising totals though Franken was the top fundraiser among Democratic candidates in the period ending March 30, bringing in nearly $2 million, with roughly the same amount in the bank.

The first-time candidate’s announcement last month was overshadowed by news that same day that U.S. Rep. Michele Bachmann was retiring from Congress at the end of her term. The DFL called McFadden’s campaign launch “disastrous.”

State Rep. Jim Abeler is also vying for the GOP’s endorsement to take on Franken next year.