Trump slows campaign spending as he tries to close cash gap with Biden

Former President Donald J. Trump's presidential campaign committee ended March with $45 million on hand, federal filings showed Saturday, as it attempts to close the fundraising gap with President Biden.

But Mr. Trump's campaign is spending far less than earlier this year, which has helped him get closer. In March, he spent just $3.7 million, according to the new filings, down from $11.4 million in January and far less than the $29.2 million Mr. Biden's campaign spent in March. In other words, Mr. Trump's campaign is conserving resources while seeking to build a war chest for the general election.

Mr. Biden's campaign had $85.5 million at the end of March, according to his monthly filing with the Federal Election Commission, a significant increase from the previous month: he ended February with $71 million in his campaign account. campaign while Mr. Trump finished February. with less than half.

As Mr. Trump and the Republicans seek the Democrats' financial advantage, Mr. Biden has also begun to narrow the gap between him and Mr. Trump in the polls. Since late February, the president has reduced his deficit from five percentage points to just one point, a virtual tie, according to a recent survey by The New York Times and Siena College.

The rivals have each capitalized on spectacular fundraisers over the past month that have brought in tens of millions of dollars for their respective campaigns. But Mr. Trump's showing at an April 6 event in Palm Beach, Fla., will be reflected in an upcoming filing. His campaign reported that he and the Republican National Committee raised more than $50.5 million from the dinner, which was held at the home of billionaire John Paulson.

The total nearly doubled the $26 million that Mr. Biden's campaign said it had raised on March 28 at New York's Radio City Music Hall, a high-profile event featuring the president and two former presidents, Bill Clinton and Barack Obama. These funds were included in Mr. Biden's fundraising figures in March.

Mr. Biden and Mr. Trump raise money primarily through joint fundraising deals with their respective parties, arrangements that legally allow them to raise hundreds of thousands of dollars from individual donors, some of which is intended for their campaigns.

The joint fundraising committees for both candidates filed reports this week with the Federal Election Commission, providing the first 2024 details on the two candidates' top donors and the total scale of their fundraising.

But the FEC's reports on presidential campaigns, which are filed monthly in election years, offer different insights into the candidates' activities and how the committees supporting them spend money.

For example, federal law guarantees political campaigns the lowest rates for broadcast advertising, so campaign committees are often used to pay for television time. In the first three months of 2024, Mr. Biden's campaign spent $45.2 million on media buying and production, with records showing more than half of his total spending of $74.1 million.

The Biden campaign spent $6.9 million on salaries and related expenses, plus another $6.9 million on text messages. Its electoral spending increased sharply in March, after two relatively stable months.

In contrast, Mr. Trump's campaign spending has slowed sharply since the start of the year, while he was still fending off his primary Republican opponents.

Since January 1, Mr. Trump's campaign has spent $23 million, including just $3.7 million in March. His campaign spent $6 million on media placements this year, all before Super Tuesday.

One of Mr. Trump's committees, a leadership PAC called Save America, which he has used to pay his legal bills, reported on Saturday that it had nearly $4.1 million on hand at the end of the month of March, approximately the same amount as at the end of March. FEBRUARY.

The group spent $5 million in March, including $3.7 million in invoices to the legal teams defending it. Mr. Trump's campaign itself also paid about $473,000 in legal fees.

A super PAC supporting Mr. Trump, MAGA Inc., said it raised $14.4 million in March, including a $5 million contribution from former Trump Cabinet official Linda McMahon and $4.2 million dollars from Robert T. Bigelow, an aerospace and real estate tycoon. The group also transferred $5 million to Save America, part of a huge return of money from the super PAC to the committee over the past year.

While national polls consistently suggest that the rematch between Mr. Trump and Mr. Biden could depend on a few states or just one, it has amplified the candidacy of Robert F. Kennedy Jr., who is running as an independent.

It also drew attention to how the liberal scion finances his campaign and what he spends money on, including ballot access and security.

The choice of Nicole Shanahan, a wealthy Silicon Valley lawyer and investor, as his running mate already appears to have become a boon for his campaign. Of the $5.4 million Mr. Kennedy raised in March, $2 million came from Ms. Shanahan, who until last year was married to Google co-founder Sergey Brin.

Sources 1/ https://Google.com/ 2/ https://www.nytimes.com/2024/04/20/us/politics/trump-biden-spending-money.html The mention sources can contact us to remove/changing this article

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