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The Daily Tar Heel

Edwards Leads Pack In Funds for 2002

According to the New American Optimists, the political action committee Edwards formed in January, the senator raised $658,750 in the first three months of 2002. He also raised $310,341 for his Senate 2004 re-election campaign in the same time period.

Reports filed this week with the Federal Election Commission show that Edwards' committee raised more in the same period than those controlled by ex-presidential candidate Al Gore and his 2000 running mate Sen. Joe Lieberman, D-Conn., both considered front-runners for the Democratic nomination.

NAO Director Steve Jarding attributed Edwards' large amount of donations to the senator's vigorous activity during the first quarter of 2002.

"The response to (Edwards) and his message is good," he said. "I think people have responded very well. He is talking about issues that affect people's lives."

Jarding added that he expects Edwards to continue raising funds at a similar pace throughout the year. "(Fund raising) is something you always have to work with; you have to move around and talk to people," he said. "But I hope it will (continue), and I think it will."

Political experts say Edwards' strong fund-raising ability demonstrates that he is becoming increasingly visible on the national level.

Michael Munger, a political science professor at Duke University, said that despite Edwards' lack of experience in areas such as foreign affairs, his fund raising indicates he is being taken seriously.

"It certainly is a sign of power to be able to raise money," he said. "One of the things you need in order to be a viable candidate is to have personal charisma. Even though there are a whole lot of people who have never heard of him, raising money means he has charisma."

Edwards' fund-raising total was helped significantly by a decision to accept soft money contributions.

More than 70 percent of the $658,750 raised by Edwards for NAO came from soft money contributions, a total of $471,000.

Soft money contributions are not regulated by federal limits because the money can't be used for individual political campaigns. Instead, the money is often funneled to political parties. Federal law will prohibit soft money contributions in national elections after Election Day 2002.

Money contributed directly to individual candidates is known as hard money. Federal regulations for the next presidential election will limit donors to contributions of no more than $2,000.

Andrew Taylor, a political science professor at N.C. State University, said a candidate's fund-raising ability can't be accurately gauged if he accepts soft money contributions. "When the soft money ban kicks in, it's going to be very interesting for us to see who the heavy-hitting fund-raisers are," he said. "When there is only hard money around, which are regulated direct money contributions, (candidates) get money from more and more sources. (It's) true insight into who's going to be able to really shake the trees vigorously."

The State & National Editor can be reached at stntdesk@unc.edu.

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