House and Senate candidates have spent at least $487 million this election cycle, $130 million more than congressional candidates had poured in by this point in the 2002 races.

Federal Election Commission (search) analysis Wednesday found that 2004 House and Senate hopefuls had raised nearly $800 million as of June 30, the most recent period covered in campaign finance reports filed with the FEC.

That compares with about $605 million collected at this point in the 2001-02 election cycle. Much of the growth comes from a new campaign finance law that took effect after the 2002 election and doubled the individual donation limit to $2,000.

The top fund-raisers among current House and Senate candidates include:

— Senate: Minority Leader Tom Daschle, D-S.D., $11.8 million; Arlen Specter, R-Pa., $11.4 million; Barbara Boxer, D-Calif., $11.2 million; Charles Schumer, D-N.Y., $10.4 million, and Barack Obama, Democratic candidate for an open Illinois Senate seat, $9.8 million.

— House: Speaker Dennis Hastert, R-Ill., $3.7 million; Robert Menendez, D-N.J., $3.4 million; Martin Frost, D-Texas, $3.1 million; Texas Democratic hopeful Michael McCaul, $2.7 million, and Allyson Schwartz, a Democrat running for an open Pennsylvania seat, $2.7 million.

Those with the most campaign money in the bank as July began include:

— Senate: Schumer, $21.8 million; Richard Shelby, R-Ala., $11.6 million; Evan Bayh, D-Ind., $7.4 million; Boxer, $7 million, and Richard Burr, a Republican running for an open North Carolina seat, $6.6 million.

— House: Rep. Martin Meehan, D-Mass, $3.5 million; David Dreier, R-Calif., $2.9 million; Mark Foley, R-Fla., $2.6 million; Pete Sessions, R-Texas, $2.6 million, and Tom Reynolds, R-N.Y., $2.6 million.