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Wednesday, May 22, 2024

In the second quarter, Donald Trump’s fundraising fell by $2 million

In the aftermath of his defeat in the 2020 presidential election, former President Donald Trump saw a decrease in the amount of donations received from the vast network of contributors who had previously provided his political operation with tens of millions of dollars in total.

During the time frame for which the financial report was prepared, there were a total of six televised hearings held by the House committee investigating the attack on the United States Capitol. Cassidy Hutchinson, a former White House adviser, testified at the hearing that is regarded to be the most damaging to Trump. However, the hearing took place on June 28, which was too late for it to have a substantial impact on Trump’s haul.

According to the most recent report that the Save America Joint Fundraising Committee has submitted to the Federal Election Commission, it brought in a total of $17 million during the second quarter of 2018, which is less than the $19 million that it brought in during the first three months of the year. 36 percent of the total came from individuals who gave amounts less than $200.

It is his lowest quarterly haul since the period from October to December 2018, when his presidential small-dollar committee took in $14 million during the midterm elections, during which the Democrats won back the House of Representatives. This is his lowest quarterly haul since the period from October to December 2018.

Trump is a political lightning rod despite the fact that he continues to have considerable support from inside the Republican Party. The events leading up to the assault on the Capitol on January 6, 2021, in which he had a part, are under constant examination. At the same time, he has been trying to strengthen his kingmaker role and inflame intra-party disputes by backing hundreds of people who vow fealty to him in primary elections around the nation. These candidates are running for office in the Democratic Party.

It has been indicated by him on many occasions that he may make another run for president in 2024; nevertheless, surveys have revealed that at least some Republicans would prefer someone else to run.

Trump communicates with his contributors by sending them regular fundraising emails and text messages, in which he promotes future rallies, sells goods, and criticises his political adversaries. His communications contain both praise for the judgement that overturned the Roe v. Wade decision and ridicule of the Jan. 6 committee and its probe. The themes of his messages include appreciation for the ruling that overturned the Roe v. Wade decision.

After the first public session of the panel on June 9, which was aired during prime time, President Trump sent an email to his supporters in which he called the procedure “another partisan witch hunt” and asked for donations. The email also included a plea for donations.

The struggle for Republican financial support has heated up as the midterm elections of this year get closer. This includes politicians running for Congress and other contests. Due to the historical trend of the president’s party losing seats in midterm elections conducted during their first terms in office, the odds favour the Republicans to gain control of the House, which is now evenly split.

The joint fundraising committee finished the month of June with a cash balance of $7.5 million, which it will need to give to Trump’s leadership political action committees, Save America and Make America Great Again, which are the successors to Trump’s presidential campaign. At the end of May, Save America had a total of $101 million in its bank account, and in June, the organisation got an extra $5.6 million from the joint fundraising committee.

When it comes to spending the money that was raised, Trump has a lot of leeway. Money contributed to a PAC is exempt from the requirements of the federal law that prohibits candidates from using campaign funds to pay for personal expenditures. He has used the money in his war chest to pay groups that promote his agenda, as well as conduct rallies, give to candidates, and sponsor campaigns.

However, Trump is unable to use it in order to run for president again. In the event that he does decide to run for office, Save America will be able to contribute no more than $5,000 to his campaign for the primary. If Donald Trump decided to run for president again, his campaign would have to start the fundraising process from scratch.

Chris Matthews
Chris Matthews
I am a Political News Journalist of The National Era
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