Trump launches third White House bid with campaign coffers delays
NEW YORK – Former President Donald Trumps The political operation began the year with about $25 million saved for his recently launched 2024 presidential campaign, a sum significantly less than what he had available just a year ago, new campaign funding reports show.
The reduced total, spread across four campaign committees, is far less than the $105 million Trump reported in early 2022. She speaks to the potential challenges for Trump as he presents his third run for the presidency, which is likely to be a crowded field of GOP candidates who will also be vying for campaign funds from the party’s donors.
On his political committees, including his main campaign account, Trump has raised $9.5 million since he started his offer on November 15, According to his campaign, a far cry from the gargantuan sums of money his campaign raised in a matter of days – or even hours – when he was still president.
Though Trump was faced with questions about whether he would struggle to raise funds, especially as some Republicans openly debate whether it’s time for the party to move on, his campaign defended the numbers.
“The campaign has built an unmatched operation both nationally and in early states since the announcement. The President will lead an aggressive and fully funded campaign to take back our country from Joe Biden and the Democrats who are trying to destroy our country,” Trump spokesman Steven Cheung said in a statement.
Part of the reason Trump has less money than before is because one of his committees, a leadership PAC called Save America, has wired $60 million to a separate super PAC supporting his bid.
Some observers of campaign finance have questioned the legitimacy of the move, arguing that the transfer bypasses the limits of such committees, which are set up to raise money for other candidates — not to fund a candidate’s own political ambitions. Super PACs can raise unlimited amounts of money but cannot formally coordinate spending with Trump’s campaign.
That committee, dubbed MAGA Inc., started 2023 with more than $54 million in expenditures, according to reports filed with the Federal Election Commission Tuesday night. Super PACs can raise unlimited funds and spend freely, but are not allowed to directly coordinate with campaigns.
Trump has also spent at least $8 million on legal fees while facing numerous investigations and a congressional inquiry into his role in the January 6 uprising.
Trump’s election campaign got off to a slow start with the former president his first campaign appearance over the weekend. At stops in New Hampshire and South Carolina, he said he was more committed than ever and vowed to hold his signature large rallies soon. He recently opened a headquarters in Palm Beach, Florida and hired employees.
Gifted donors have reconsidered whether they will stay with Trump He is embroiled in investigations and legal problems and was blamed for the disappointing performance of the Republicans in the midterm elections.
But his popularity among Republican voters and his prolific fundraising, which relies on small-dollar donations, could allow him to win the nomination without the help of big donors.
He’ll be able to revive soon an important fundraising source for his campaigns when his Facebook account is restored, allowing him to communicate directly with 34 million followers. The audience is more than seven times that of his Truth social network.
This was announced by Facebook mother Meta it will restore Trump’s account in the coming weeks after a two-year suspension imposed in the wake of the Jan. 6 riot.
At least one Republican challenger is preparing to enter the race soon. Former South Carolina Governor Nikki Haley, who was Trump’s ambassador to the United Nations, is planning to announce their campaign on February 15th.
Associated Press writer Brian Slodysko in Washington contributed to this report.
Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, transcribed or redistributed without permission.
https://www.local10.com/news/politics/2023/02/01/trump-starts-3rd-white-house-bid-lagging-in-campaign-cash/ Trump launches third White House bid with campaign coffers delays