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Wealthy Challenger Drops Bid Against Rep. McCaul

Jack McDonald (D), a technology executive who had been waging a well-funded campaign against Rep. Michael McCaul (R-Texas), announced Tuesday afternoon that he was ending his Congressional bid just two weeks before the Texas filing deadline.“This was a difficult decision for me and one I did not make lightly,— McDonald wrote in letter to his supporters. “I approached the decision in the same way I have approached my business decisions over the years — in an informed, realistic and fiscally-responsible way.—McDonald’s campaign had never moved past what he called the “exploratory— phase, but he had been raising serious cash since announcing his exploratory committee in February.McDonald reported raising $298,000 in the third quarter and $933,000 overall; he had $805,000 in cash on hand as of Sept. 30. McDonald has loaned his campaign $26,000 in personal funds, including $25,000 in the third quarter.McDonald said that in the coming weeks, he’ll offer to return contributions made to his campaign.McCaul raised $236,000 from individuals, political action committees and other sources in this year’s third quarter, along with a $500,000 personal loan, for a total of $736,000 in receipts. He had $892,000 left to spend as October began.Democrats made some noises about giving McCaul a tough race in 2008. but he wound up winning by 11 points over a TV judge who is well known in Texas. McCaul, whose father-in-law is the chairman of Clear Channel Communications, spent more than $1.7 million on his race last cycle.

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