Obama raises cash at $40,000-a-ticket DC reception

AP News
Posted: Apr 12, 2012 8:59 AM
Obama raises cash at $40,000-a-ticket DC reception

President Barack Obama is raising about $800,000 for his re-election effort during a profitable fundraising stop just a block from the White House,

The president is meeting with about 20 supporters who paid $40,000 to attend a reception at the W Hotel, keeping up a fast-paced effort to amass cash for his campaign and for Democratic Party organizations.

Obama's fundraising efforts have taken added importance as former Massachusetts Gov. Mitt Romney emerges as the all-but certain Republican nominee. Romney's closest challenger, former Sen. Rick Santorum of Pennsylvania, suspended his campaign on Tuesday.

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The proceeds of Wednesday's event will be distributed among Obama's campaign, the Democratic National Committee and several state Democratic parties.