Fred Thompson Reports Raising More Than $3.4M

WASHINGTON (AP) - Undeclared Republican candidate Fred Thompson on Tuesday reported raising nearly $3.5 million in one month for his expected presidential bid, lagging behind his backers' goal of $5 million.

The "Law & Order" actor and former Tennessee senator filed papers with the Internal Revenue Service that showed he spent about $625,000 in June, the first month that his preliminary campaign committee was operating.

At $3.46 million, the total raised fell short of the $5 million goal his backers initially set to reach in one month for his committee to "test the waters" of a presidential bid.

Thompson did, however, collect more than several other Republicans in their initial fundraising months as prospective candidates. Still, Thompson's take doesn't even compare to Mitt Romney's one-day $6.5 million haul.

The IRS filing is the first official indication of Thompson's financial situation but it gives only a partial picture. Only money collected and spent in June had to be reported. Under IRS rules, he didn't have to disclose money raised and spent in July, a month in which he held several large fundraisers.

On June 4, Thompson filed with the state of Tennessee to establish the "Friends of Fred Thompson, Inc." committee. That allowed him to explore a candidacy without having to disclose to the Federal Election Commission how much he was raising and spending unless - or until - he becomes a declared candidate.