New financial filings reveal a significant early financial disadvantage for former President Donald Trump and the Republican National Committee (RNC) against President Joe Biden’s $100 million campaign fund. Trump, recently named the Republican Party’s presumptive nominee for 2024, and the RNC are intensifying efforts to close this fundraising gap by launching joint operations and planning high-dollar donor events.
Despite Trump’s successful fundraising events and a notable $11 million raised in February, Trump’s campaign and the RNC start March with significantly less in the bank compared to Biden and the Democratic National Committee (DNC). Legal expenses related to Trump’s ongoing legal battles, including 88 criminal charges and a $464 million civil fraud judgment, have notably impacted his financial resources.
The Biden campaign, benefiting from early Democratic support, has been able to raise and spend funds more effectively, taking advantage of high-dollar donations and shared fundraising resources. In contrast, Trump’s campaign has reported lower expenditures this cycle, partly due to legal costs consuming a substantial portion of the funds.
Trump’s recent establishment of two new fundraising committees aims to bolster his financial position. One of these, the Trump 47 Committee, is prioritizing contributions to Trump’s Save America PAC, which has been covering his legal expenses but cannot directly support his reelection.
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