Peter Overby

Republican presidential candidate Mitt Romney is on a weeklong trip in which he's scheduled to meet with three prime ministers, give two speeches and attend the opening ceremonies of the London Olympics. On a more practical level, he'll also raise some campaign cash.

This trip is designed to highlight how Romney would fix the failings he sees in President Obama's foreign policy.

Romney opened his attack Tuesday while still in the U.S. In an address to the Veterans of Foreign Wars in Reno, Nev., he lit into the Obama administration's relationship with Israel.

The presidential campaign of Republican Mitt Romney surged ahead of President Obama last month in fundraising efforts. While Obama continued to get more money from small donors, those who give $200 or less, Romney showed new strength there. Also, big donors have enabled Romney to quickly build a strong cash reserve.

At first glance, it seems that Obama has a nice cushion of cash. Obama for America, his campaign committee, reported almost $98 million cash-on-hand, compared to less than $23 million in the kitty at Romney for President.

Republican Mitt Romney's presidential campaign says a recently formed arm of the organization collected more than $10 million a week during a three-month period this spring. And most of the money care from high-end donors.

Romney Victory Inc., got its first four contributions on April 6 — three donations of $50,000 each and one check for $350. Since early April, it's pulled in $140 million.

In Senate races, Democrats are fighting to preserve their thin majority. Their party campaign committee wants the Federal Election Commission to crack down on some of the Republicans' wealthiest allies — outside money groups that are using anonymous contributions to finance a multimillion-dollar onslaught of attack ads.

The state of Montana has lost a closely watched bid to challenge Citizens United, the 2010 Supreme Court ruling that lets corporations deploy their money to help or attack specific candidates.

Citizens United dramatically loosened the restraints on corporate involvement in political campaigns. It also set strict new limits on what's considered "corruption or the appearance of corruption" when it comes to restricting money in politics.

Friday Senate Republican leader Mitch McConnell said it's time to roll back the Watergate-era requirement for public disclosure of campaign donors. He accused President Obama and liberals of trying to stifle the First Amendment rights of conservative donors.

Federal election law has required the public disclosure of campaign donors for nearly 40 years.

But this year, outside groups are playing a powerful role in the presidential election. And some of them disclose nothing about their donors. That's despite what the Supreme Court said in its controversial Citizens United ruling two years ago.

Among the biggest advertisers in the presidential campaign is a group that says it doesn't do political advertising: Crossroads GPS.

Crossroads GPS — which stands for Grassroots Policy Strategies — was co-founded by Republican strategist Karl Rove. It and others like it enable wealthy donors to finance attack ads while avoiding the public identification they would face if they gave to more overtly political committees.

In the world of high-dollar politics, the billionaire industrialists David and Charles Koch are famous for their lavish funding of conservative politicians and causes. But there's another Koch brother — William — who is passionate about many things, but only recently about politics.

Bill Koch is an avid yachtsman, and he set out to win the 1992 America's Cup. It would take four boats, more than 260 team members and single-minded determination.

David Rosow was the team's business manager and is a longtime friend of Koch's.

The latest deadline for the presidential candidates and the major superPACs to disclose their finances was Sunday night. The public and the media can find out who has been giving to the candidates, and how that money was spent. But there's a lot of political spending that isn't being reported.

Outside money groups are spending millions of dollars, and the donors remain anonymous. Two recent court rulings could force those groups to file public disclosures, but there already seems to be a way around that.

Transcript

STEVE INSKEEP, HOST:

OK. So that's the budget money. Let's talk about political contributions. The laws governing political money have just become a little bit more convoluted. But this time, the new twist could actually mean more disclosure. We'd find out the names of the big donors who finance attack ads.

NPR's Peter Overby reports.

If you thought the presidential primaries were extraordinarily negative, now there's statistical evidence that you were right.

A new analysis of TV ads finds that 70 percent of the messages were negative — a trend spearheaded by the heavily financed superPACs supporting the candidates. At this point in the 2008 election, 91 percent of TV ads were positive.

Newt Gingrich is officially out of the presidential race. The former House speaker said Wednesday that he's suspending his campaign, and he's ready to help the presumptive Republican nominee, Mitt Romney, battle President Obama. But Gingrich might have a more pressing problem: His campaign has about $4 million in debt.

In Gingrich's exit speech, he opened by thanking people — first his family, then his financial backers.

"I also want to single out, first of all, the over 179,000 donors who helped us at Newt.org and who helped make the campaign possible," he said.

Every presidential nominee going back to 2000 has revealed the names of influential supporters known as "bundlers" because of the way they persuade others to give money to a candidate. Every nominee, that is, until Mitt Romney.

The most anyone can give directly to any presidential campaign is $5,000, and everyone who gives that much is listed in the Romney campaign's monthly disclosures.

When it comes to the bundlers, though, the campaign chooses to keep those names secret.

Voluntary Disclosure

The White House has been fielding questions lately about President Obama's travel — what's official, what's political and whether taxpayers are getting stuck with the bill. It's the same issue that rolls around every time a president runs for re-election.

Take President Obama's trip to Florida earlier this month. It featured an official presidential speech on the economy at Florida Atlantic University. On the same trip, the president hit two fundraisers.

How do you sort that out?

The conservative group that has seen some corporate donors flee because of its involvement in pushing for voter ID and stand-your-ground gun laws, has new troubles. Common Cause has filed a complaint with the IRS that the American Legislative Exchange Council, known as ALEC, violated the limits of its charity tax status.

The latest financial numbers are coming out Friday from the campaigns of President Obama and Republican presidential candidate Mitt Romney — along with the superPACs that love them.

First, the easy numbers: $53 million was raised in March to re-elect Obama and $12.6 million was raised by the Romney campaign to win the Republican primaries.

But those easy numbers don't give a complete picture.

Yum Brands, the company that owns Taco Bell and Pizza Hut, says it's the latest corporation to break ties with the American Legislative Exchange Council — a group that brings state lawmakers and corporate lobbyists together to write legislation.

Liberal groups are pressuring corporations to abandon ALEC, and a dozen companies have now dropped out.

This week, ALEC did some damage control. It said it is shutting down its task force on public safety and elections, which wrote controversial measures on voter ID, "stand your ground" and immigration reform.

Two of America's best-known companies, Coca-Cola and PepsiCo, have dropped their memberships in the American Legislative Exchange Council, a low-profile conservative organization behind the national proliferation of "stand your ground" gun laws.