RNC raising big bucks for McCain

WASHINGTON, May 18 (UPI) -- The Republican National Committee is trying to raise $120 million for the its presumptive presidential nominee, Arizona Sen. John McCain.

The fundraising effort is intended to counter record fundraising by Democrats during the current election cycle, The Boston Globe reported Sunday.

An updated finance report to be filed this week will reflect April as "the best month we've had," said Robert "Mike" Duncan, chairman of the RNC.

In the first four months of the year, the party collected contributions from "around 700,000 donors," he said.

The RNC holds a $26 million cash-on-hand advantage over the Democratic National Committee, recent reports indicate. That advantage might be needed since McCain has on his own raised less than one-third as much money as Illinois Sen. Barack Obama, his likely Democratic opponent in November.

Both parties are limited under federal law to spending no more than $19 million in coordinated expenditures with the candidates' campaigns.

The parties may, however, spend unlimited funds on "independent expenditures" and so-called hybrid advertising that mentions the candidate with subtle references to the party, the newspaper said.