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Highlands Today

The Money Chase

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By GARY PINNELL

Highlands Today

Published: July 20, 2008

SEBRING - Why is congressional candidate Hal Valeche contributing a half million dollars to his campaign?

"We want to win," says Valeche, a Palm Beach Gardens city councilor and ex-Wall Street banker. "That how much we thought it was going to take to tell our story."

Valeche is the only hopeful in the 16th district race to shell out hundreds of thousands of dollars, but he's not the only Florida candidate who's willing to spend his personal fortune to get to Washington.

Rep. Gus Bilirakis, R-Palm Harbor, has stocked his war chest with $1.05 million. Incumbent Adam Putnam of Bartow has invested $1.35 million in his Capitol Hill career.

These numbers are detailed in the latest campaign committee filings with the Federal Election Commission available on Wednesday, reflecting fundraising and spending from January 2007 through the end of June.

Valeche, State Rep. Gayle Harrell, and Tequesta attorney Tom Rooney will face off Aug. 26 in the Republican primary.

No matter how much or how little they raised, all the candidates are beating their chests.

"Our campaign raised over $98,000 over the past three months, more than any other Republican and making us the fundraising leaders of the quarter," said Harrell, in a letter to contributors. Her campaign has the least cash left over.

"Tom raised $90,278 this quarter, and we have $451,356 cash on hand," said Jeff Ostermayer, Tom Rooney's communications director. "That's more than Gayle Harrell and Hal Valeche."

"Valeche self-financed," Rooney added.

Valeche can claim more cash on hand than both his opponents combined, but half his money comes from his own checkbook.

Unlike the national campaigns of Obama and McCain, about 10 percent of Valeche's donations comes from the Internet. But that only works for candidates who are already well known, Valeche said.

"We're raising money the old-fashioned way," Valeche said. "I call a lot of people."

"We go to lots of meet-and-greets," said Ostermayer, speaking for Rooney.

Most of the money is spent on TV ads and mailers to voters in the 16th district, which extends from Palm Beach to Charlotte counties.

"We should be on the air in the next few weeks," Ostermayer said. Valeche is already buying commercial time on the Palm Beach stations, and through the cable TV systems in Highands, Glades, Hendry and Charlotte counties.

The GOP primary winner will meet incumbent Tim Mahoney, D-Palm Beach Gardens, in the Nov. 4 general election.

Mahoney is proving the power of incumbency. Two years ago, it took 18 months to raise $2.8 million in a fight that included Republican Mark Foley, until the eight-term incumbent resigned in the wake of the page boy scandal.

Fast-forward to 2008: Mahoney has amassed $2.5 million already, even though he has no primary opponent.

Campaign Manager Jonathan Murray noted that Mahoney's campaign raised $340,000 in the second quarter, has already bought $250,000 worth of air time, paid off $675,000 that Mahoney loaned himself in 2006, and still has nearly $1.2 million cash on hand.

Congressional War Chests

Candidate

Contributions

Expenses

Balance

Loans

Gayle Harrell

$645,798

$405,717

$240,081

$49,040

Tim Mahoney

$2,469,782

$1,353,149

$1,172,122

$0
Tom Rooney
$783,912

$332,554

$451,355

$25,000

Hal Valeche

$1,054,098

$226,142

$828,766

$500,000

Source: Federal Election Commission, through June 30, 2008

Clinton Still Leads Presidential Contributions

Candidate

Florida

ZIP 338xx

Hillary Clinton

$10.4 million

$87,676

Barack Obama
$8.4 million

$59,739

John McCain

$7.4 million

$72,764

Rudy Giuliani

$4 million

$8,670

Source: Federal Election Commission, through June 30, 2008

Gary Pinnell can be reached at gpinnell@highlandstoday.com or 863 386-5828. Billy House of Media General News Service contributed to this story.

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