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Tags: fec | trump | biden | rfk | haley | 2024

FEC: Legal Woes Drain Trump, Biden Has Cash Edge

By    |   Wednesday, 21 February 2024 06:15 PM EST

Amid a series of legal challenges, which Donald Trump and critics have called "banana republic" tactics to knock off a political opponent, the former president's campaign spent more money in January than it raised, revealing a financial strain as detailed in the latest Federal Election Commission filings.

This financial predicament, Axios reported, left Trump with approximately $30 million in cash, starkly contrasting with President Joe Biden's $56 million and suggesting a daunting path ahead for Trump.

The financial strain on Trump's campaign is exacerbated by substantial legal expenditures, with his Save America leadership PAC ending January with a mere $6 million, a significant chunk of which — $2.9 million — was directed toward legal expenses. The main super PAC backing Trump, Make America Great Again Inc., had $19.7 million in January.

As some have claimed a weaponization of the legal system against Trump, The New York Times reported on Feb. 9 that independent candidate Robert F. Kennedy Jr. was being sued by the Democratic National Committee allegedly for working illegally with a super PAC.

Meanwhile, Biden's campaign claimed it had $130 million in its war chest. Additionally, the DNC said it had $17.4 million in January and ended the month with $24 million.

On the other side of the political aisle, the Republican National Committee is lagging behind its Democratic counterpart, both in fundraising efforts at $11.6 million and closing the month of January with $8.7 million in cash reserves.

Meanwhile, the campaign of former South Carolina Gov. Nikki Haley, who has fallen behind Trump in every caucus and primary so far, is burning through cash, despite a strong fundraising showing, Axios added.

As the political and financial narratives unfold, the April FEC filings will offer a more definitive glimpse into the fiscal standings of Trump, Biden, and other potential contenders, according to Axios.

Nick Koutsobinas

Nick Koutsobinas, a Newsmax writer, has years of news reporting experience. A graduate from Missouri State University’s philosophy program, he focuses on exposing corruption and censorship.

© 2024 Newsmax. All rights reserved.


Politics
Amid a series of legal challenges, former President Donald Trump's campaign spent more money in January than it raised, revealing a financial strain as detailed in the latest Federal Election Commission filings.
fec, trump, biden, rfk, haley, 2024
304
2024-15-21
Wednesday, 21 February 2024 06:15 PM
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