Deeds raises more in period, but McDonnell has more cash

RICHMOND

Democratic gubernatorial candidate Creigh Deeds is on a fundraising roll, but Republican Bob McDonnell has more money in the bank.

According to campaign finance reports released Tuesday, Deeds raised about $3.5 million in July and August - roughly $500,000 more than McDonnell. But McDonnell has $5.8 million available to spend, nearly $1.5 million more than Deeds, who has $4.3 million.

In the lieutenant governor's race, Democratic challenger Jody Wagner out-raised Republican incumbent Bill Bolling during the reporting period - she collected more than $636,000, while Bolling netted about $546,000 - but the incumbent Republican has a larger stockpile in his campaign war chest.

Those funds have enabled Bolling to go on the air with television and radio ads that are costly to run but can deliver a significant return on investment by reaching large numbers of voters.

Republican attorney general candidate Ken Cuccinelli, a state senator from Fairfax County, pulled in more than $617,000 this period and has more than $752,000 in the bank. His Democratic opponent, Del. Steve Shannon of Fairfax, took in less - $534,000 - but his $1.6 million in the bank is more than twice what Cuccinelli possesses.

The release of fundraising tallies is an eagerly anticipated event for those who intently track political campaigns.

While not necessarily an indication of an election's outcome, a cash advantage for a candidate could help build momentum in the roughly seven weeks remaining before the Nov. 3 election.

National political parties plan to be big financial players in the governor's race. Democrats recently said they will spend at least $5 million on the contest, and Republicans announced Tuesday they will contribute $7 million.

Julian Walker, (804) 697-1564, julian.walker@pilotonline.com