United States: Donald Trump’s political operation accumulated nearly $130 million in the remaining months of 2022, and despite spending heavily, Trump will go into 2024 with about $43 million to begin election season.
Campaign Finance Breakdown
Reports of Wednesday’s campaign finance showed that Trump’s political operation, which is made up of four committees, spent about $86 million to the end of 2023, with an amount that ran into several million largely shifted to pay legal fees.
Trump’s campaign spending at the year’s end went down to about $33 million. At that time, President Joe Biden revealed his primary campaign committee as spending almost $46 million to begin 2024.
Biden’s Fundraising Success
The overall political operation led by Biden tallied having raised $97.1 million at the end of 2024 through various committees used to fuel fundraising and accumulating to have had a balance amounting to $117.4 million at the close of 2024.
That also includes the Democratic National Committee’s fundraising numbers, which serve in tandem with the sitting president. Biden’s team reported that December — a period that included a packed celebrity fundraising blitz – was his strongest month as far as fundraising is concerned.
Disparity in Fundraising Strategies
Though Trump is the front-runner for Republicans, he does not have many of the added benefits of fundraising similar to Joe Biden. For example, Biden can receive donation checks from individual donors close to $1 million on condition that she first signs a combined agreement with the Democratic National Committee.
Even larger amounts through joint operations between Democrats and Mr Biden. That cap will not be available for Trump if he captures the designation and gets into an honest-to-goodness arrangement with the Republican National Committee, which began in 2024 with just $8 million in its ledger.