2024 Presidential Race: Financial Snapshot Reveals Trouble for DeSantis, GOP Fundraising Discrepancies, and Democratic Senate Defense
Over the weekend, candidates in the 2024 presidential race filed their campaign finance reports with federal regulators, offering the first full financial look at the upcoming election. The reports reveal potential trouble spots for Florida Governor Ron DeSantis, a skeletal campaign operation for former President Donald Trump, and a significant fundraising disparity between the early leaders in the Republican primary and the rest of the field. Additionally, the filings show at-risk Senate Democrats amassing substantial sums as they scramble to defend their narrow majority in next year’s elections. Republican freshmen in competitive House seats also demonstrated a strong start. Here are the key takeaways from the second-quarter fundraising reports.
Ron DeSantis, the Florida governor, raised an impressive $20 million. However, his campaign is rapidly burning through cash, having spent nearly $8 million since entering the race in late May. The campaign’s filing with the Federal Election Commission shows that travel and payroll expenses each exceeded $1 million, with over $800,000 going towards digital fundraising consulting. As of the end of June, DeSantis employed 90 people, compared to the roughly 40 employed by Trump’s campaign. DeSantis defended his campaign’s finances, stating that they raised more money than Biden and Trump did in the second quarter. However, it’s worth noting that Biden has access to the resources of the Democratic National Committee for his reelection campaign. DeSantis entered the second half of the year with $12.2 million in the bank, but only about $9 million of that is available for spending in the GOP primary. He collected $3 million in general election money from maxed-out donors, which can only be spent if he secures his party’s nomination.
The fundraising reports also revealed a significant divide between the top fundraisers, such as Trump and DeSantis, and other well-known political figures vying for the GOP nomination. Former Vice President Mike Pence raised less than $1.2 million, raising questions about his ability to gain traction among the party faithful. On the other hand, former New Jersey Governor Chris Christie outraised Pence, bringing in over $1.65 million in the first 25 days of his candidacy. North Dakota Governor Doug Burgum, who is largely self-financing his campaign, raised nearly $1.6 million, surpassing Pence’s fundraising total.
In terms of the Democratic contenders, President Joe Biden has announced raising $72 million with the Democratic National Committee. This total is nearly as much as what all the major GOP contenders combined reported collecting in their main campaign accounts during the second quarter. However, Biden’s campaign is relatively bare-bones, having spent just $1.1 million in the second quarter and employing only four staffers as of the end of June. This slow start may raise concerns among some Democrats about the president’s reelection preparations.
In the Senate races, vulnerable Democratic incumbents are accumulating substantial sums as they prepare to defend their narrow majority in the chamber. Montana Senator Jon Tester raised over $5 million in the second quarter, touting it as his best second quarter in a nonelection year. He started July with $10.5 million in cash reserves. In West Virginia, Senator Joe Manchin’s fundraising picked up significantly during the second quarter, with him collecting nearly $1.3 million. Manchin’s second-quarter haul surpassed the amounts raised by the top Republicans in the race, Governor Jim Justice and Representative Alex Mooney.
Overall, the second-quarter fundraising reports provide key insights into the financial landscape of the 2024 presidential race. They highlight potential challenges for candidates like Ron DeSantis, disparities in GOP fundraising, and the financial strength of at-risk Senate Democrats. As the race intensifies, these financial figures will play a crucial role in shaping the strategies and viability of the candidates.
Original Story at www.cnn.com – 2023-07-16 22:52:00
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