Newman raises $295K during first quarter of 2008

Republican Second Congressional District candidate Monty Newman raised almost $300,000 during the first three months of 2008, including a $100,000 loan he made to his own campaign.

In addition to the loan, Newman raised $194,200 from individuals and $1,000 from political action committees, bringing the total raised to $295,200, according to the report he filed Friday with the Federal Election Commission. He spent $88,906, leaving him with $206,293 in the bank on March 31.

Newman is the first candidate from the Southern New Mexico district to file his report with the FEC for the first three months of the year. Reports must be filed and made public by Tuesday. Republican candidate Aubrey Dunn has announced that he raised $106,598 during the quarter and ended it with $287,148 on hand, but he has not filed his report with the FEC.

Newman had a large number of contributions from Hobbs, his hometown, during the first quarter of 2008, and also had a large number of contributions from out-of-state realtors. Newman is a past vice president of the National Association of Realtors.

Newman didn’t enter the race until January, so the new FEC report is the first indicator of his ability to raise money. Though his fundraising is respectable, he has a difficult road ahead. He fell just short of securing 20 percent at the March 15 preprimary nominating convention and had to gather additional signatures to stay in the race. No candidate who failed to secure 20 percent at a preprimary convention has ever gone on to win a primary in New Mexico.