Updated Wednesday 28, 2008 – an earlier version of this release failed to credit Public Citizen’s research, and required corrections in the chart.

Washington – Fundraisers for President George W. Bush’s presidential campaign have raised more than $5.8 million for John McCain’s campaign, according to research by Campaign Money Watch, a campaign finance watchdog. The research drawing connections between the two Republican politicians comes hours before they headline a fundraising event in Phoenix.

“John McCain is depending on nearly three dozen Bush ‘bundlers’ to raise money for his campaign,” commented David Donnelly, director of the watchdog group. “Thirty-four Bush fundraisers have accounted for at least $5.8 million for McCain’s White House bid, and probably much, much more.”

Utilizing data supplied by Public Citizen, Campaign Money Watch compared lists of “Pioneers” and “Rangers” – names President Bush used to describe those who raised $100,000 and $200,000, respectively, for him in his presidential bids, with the list of “Trailblazers” and “Innovators” McCain uses to describe those who raise $100,000 or $250,000, respectively. Thirty-four individuals appear on both lists. With 18 Trailblazers and 16 Innovators, McCain has received at a minimum $5.8 million from these fundraisers. A PDF version of the chart is available here.

In addition, Sen. McCain is depending on large donations that exceed the limits for what a presidential candidate can receive. By setting up a joint fundraising account with national and state parties, McCain is raising contributions as large as $86,200, according to the Los Angeles Times, an amount 37 times larger than the $2,300 individual contribution limit on donations to candidates.

“Following several weeks of news reports of McCain’s lobbyist connections, John McCain has turned to big money donors and George Bush’s fundraising machine,” added Donnelly. “With his embrace of big money lobbyists and Bush’s bundlers, and his retreat from real reform, McCain is no longer the reformer he once was.”

Campaign Money Watch, a project of Public Campaign Action Fund, works to hold politicians accountable for opposing comprehensive campaign finance reform and for the favors they do for wealthy special interests.