Hagan Quadruples Cash on Hand; Closes Fundraising Gap

July 11, 2008

GREENSBORO, NC- Kay Hagan’s U.S. Senate Campaign released her fundraising numbers for the second quarter of 2008 earlier this week, and today announced that they have drastically closed the fundraising gap between she and her opponent Elizabeth Dole.

The amount that Dole spent in the second quarter was more than the amount she raised, and her remaining cash on hand was reduced by more than $450,000 from what she had in the first quarter. In addition, Kay cut the difference in cash on hand between the two campaigns by nearly half.

Because of North Carolina’s primary on May 8, the second quarter FEC reporting period for candidates in the state begins on April 17 and ends on June 30. In that period, Dole raised $1.69 million, while Kay raised $1.54 million. In addition, Dole’s cash on hand number, a pivotal measure for how much the campaign has to spend in the state, has decreased dramatically, from $3.16 million in the first quarter to $2.7 million in the second quarter, despite raising $2.1 million. In comparison, Kay’s cash on hand number quadrupled, from more than $317,000 in the first quarter to more than $1.2 million in the second quarter.

“We were thrilled with the amount of support people, especially those from North Carolina, showed for Kay in the second quarter. It’s even more telling that folks simply don’t want to support her opponent, whose tenure in the U.S. Senate has been marked by drastically higher gas prices, an unstable economy, a seemingly never-ending war, and a general feeling that we just aren’t moving our country in the right direction,” said Hagan Communications Director Colleen Flanagan. “Our aggressive, grassroots campaign has enabled us to reach out to folks all across the state who believe that Kay has the record of results and proven leadership to get things right for middle class families, and it’s clear we’ll have the resources to compete with Dole’s special interest war chest.”

“Despite Dole spending more than she raised, a large part of that on commercials reintroducing herself to North Carolinians who have not seen her in six years, her campaign still isn’t connecting with North Carolinians, many of whom know they were better off six years ago than they are today,” Flanagan said. “To be at 51% or below in every single public poll since the primary, as an incumbent, is a telling number in an environment which already does not favor more of the same.”

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