Here’s a sign that Newt Gingrich is poised to make a run in the Republican presidential race — the former Speaker of the House finally has his own SuperPAC.
SuperPACs, “outside” funding groups supporting candidates but not officially tied to campaigns, can raise and spend unlimited amounts of money. They are the hottest trend in U.S. politics, after court decisions last year lifted most restrictions on political fundraising. Texas Governor Rick Perry may be lagging in the polls, but he has at least seven. “Restore Our Future,” favoring Republican frontrunner Mitt Romney, raised $12.3 million in the first half of 2011 alone.
Newt’s SuperPAC, “Solutions 2012,” launched on Wednesday night, coinciding with a debate between the candidates vying for the Republican nomination to oppose Democratic President Barack Obama’s re-election.
Backers look to the 68-year-old Gingrich as a viable competitor for Romney, whom some Republicans see as too moderate to be the party’s candidate for the White House. Interest in Gingrich has intensified as Perry’s poll numbers have slipped after poor debate performances, and businessman Herman Cain, another conservative favorite, has grappled with a sexual harassment scandal.
Newt’s SuperPAC touts the candidate as an expert on policy who does not attack other Republicans, in a video that says “Help us show America that substance still matters.”