Former President Donald Trump continues to outstrip his GOP competitors, not only in polling numbers but also in fundraising.
What Happened: Trump’s campaign reported a third-quarter fundraising haul of $24.5 million, more than twice that of any of his Republican competitors, reported The Washington Post.
The report, filed on a Sunday night with the Federal Election Commission, also shows that Trump’s campaign now has more than seven times the cash on hand for the primaries compared to Florida Governor Ron DeSantis.
The fundraising momentum for Trump’s campaign seems to be accelerating, with the third-quarter numbers surpassing the $17.7 million and $14.4 million raised during the second and first quarters, respectively. The campaign now boasts $37.5 million in its coffers.
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Trump’s campaign also reported significant spending, including $1.3 million on payroll and $1.1 million to TAG Aviation, a charter jet company. The campaign’s largest expenses in the third quarter were payroll and private air travel.
Why It Matters: Despite the expenses, Trump still finds himself in a comfortable financial position compared to his rivals. DeSantis' fundraising has slowed, leaving him with about $12.3 million. Former U.N. Ambassador Nikki Haley reported $11.5 million on hand at the end of the third quarter.
Trump’s substantial financial advantage holds significant practical implications. In the event of a declining polling lead, the former president can easily outspend his primary rivals in advertising.
He also has the capacity to maintain a more extensive payroll, strengthening his ground game compared to the competition. DeSantis benefits from a well-funded super PAC to address these disparities, although it cannot engage in direct coordination with the Florida governor’s campaign due to legal restrictions.
According to RealClearPolitics, Trump had 58.3% support in national polls, while DeSantis stood at 12.9%, Haley at 7.6% and Vivek Ramaswamy at 6.2%.
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