Former President Donald Trump is strapped for campaign cash for his third run at the White House, NBC News reports.
After the launch of his 2024 campaign in mid-November after the midterms, Trump’s campaign financing got off to a slow, modest start.
Trump has been the most prolific fundraiser in the GOP in recent years.
But according to end-of-year figures, his campaign ended the year with about $7 million on hand while his Save America fund had about $18 million.
Numbers also show that Trump’s principal fundraising committee spent more than it raised during the final month of 2022, underscoring Trump’s fundraising challenges as he attempts a political comeback.
The Save America Joint Fundraising Committee, the primary fundraising vehicle for Trump’s 2024 campaign and his leadership PAC, raised just shy of $5 million between Nov. 29 and Dec. 31.
But a lot of money was spent to do that. Nearly $2.5 million was spent on texting, $1.7 million on online advertising, and $950,000 on list rentals — totals that when combined exceed what the group took in over that period.
The high costs of fundraising are an ominous sign. The early days of campaigns are often a time for candidates to reap easy cash from enthusiastic donors.
Trump’s launch of his campaign has been sluggish. He hasn’t done much since he rushed to announce his campaign, not hitting the trail until this past weekend.
Tuesday’s filings with the Federal Election Commission suggest that Trump’s fundraising was also sluggish, leaving him with a far smaller war chest than the more than $100 million Save America had on hand through early 2022.
Trump has significant fundraising work to do ahead of what could be a grueling election cycle.
His campaign reported only $3 million in cash on hand, compared to more than $19 million that his campaign had at the same time in the 2020 election cycle. Four years ago, the then-president also did not have a competitive primary approach.
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