Lindsey Graham raises $3.7 million for presidential bid

U.S. Sen. Lindsey Graham has raised $3.7 million to kickoff his underdog bid for the 2016 Republican presidential nomination, including $1.5 million he moved from his U.S. Senate campaign account.

But Graham, who proved an effective fundraiser in his 2014 U.S. Senate re-election bid, lags far behind the fund-raising leaders in the presidential nominating race.

Democratic frontrunner Hillary Clinton has raised more than $47 million since entering the race for her party’s nomination. Republican U.S. Sen. Ted Cruz of Texas leads the GOP, having raised $14.3 million for his campaign.

However, Graham of Seneca led the pack in his home state, which holds a key early primary next February.

Graham raised $858,080 – roughly $1 of every $4 that he brought in – from S.C. donors, out-raising all other presidential hopefuls, Democrats and Republicans combined, in the Palmetto State.

The campaign fund-raising totals are not the only measure of a candidate’s potential for success, Citadel political scientist Scott Buchanan cautioned.

The “big money” goes to super political-action committees that can receive unlimited cash from donors as long as the PAC does not coordinate its activities with a candidate or a campaign.

Candidates are restricted to accepting $2,700 from a single donor during the primary cycle, making it more difficult to raise cash quickly for their campaigns.

Still, a candidate’s fund-raising successes are valuable, especially early on in a race, Buchanan added.

Candidates use the amount that their campaigns raise as “a barometer for the excitement for their campaign and their candidate.”

For example, a candidate who receives lots of small donations can tout winning buy-in from regular people, he said.

This story was originally published July 17, 2015 at 6:39 PM with the headline "Lindsey Graham raises $3.7 million for presidential bid."