(Ezekiel Loseke, Headline USA) Presidential candidate and former President Donald Trump is spending more money than he is raising on his campaign, despite a notable lack of activity and being the only declared candidate in the field.
Trump currently has $25 million on hand for his presidential run, but that is far less than his holdings from last year, according to Chron.
Trump had $105 million on hand at the beginning of 2022. These numbers are skewed by a $60 million transfer from the campaign to MAGA Inc., a super-PAC supporting Trump.
In addition, the Trump campaign’s fundraising operation costs more than it is currently bringing in, according to Politico.
Trump’s primary fundraising tool, The Save America Joint Fundraising Committee, raised about $5 million between Nov. 29 and Dec. 31.
That money was offset by the expenditures required to obtain it. Trump’s campaign spent $2.5 million on texting, $1.7 million on online ads and $950,000 on list rentals in that period.
The campaign’s fundraising arm spent more than it raised.
Trump’s previously raised funds covered his expenditures over the holidays, but operating at a loss is not a good sign early in a campaign. Typically, candidates who have just announced are pulling in large amounts of money from the enthusiasm their new campaign is generating. Indeed, Trump was the only declared candidate for POTUS in this period.
Trump still has significant outside money backing him. MAGA Inc. reported holding $54 million at the end of 2022 and will be able to significantly support Trump.
Steven Cheung, a Trump Campaign spokesman, reported satisfaction with the operation of the organization.
“President Trump has raised $21.3 million in the last quarter, proving that he is an unstoppable force that continues to dominate politics,” he said. “The campaign built out a second-to-none operation both on the national level and in early states since announcing.”
