Biden’s cash edge widens, Trump’s lawyer fees pile up and other takeaways from latest filings

Biden’s cash edge widens, Trump’s lawyer fees pile up and other takeaways from latest filings - Politics - News

A Deep Dive into the Presidential Campaign Finances: Biden’s Fundraising Dominance, Trump’s Legal Woes, and Kennedy’s Super PAC Spending

The latest campaign finance reports for the month of February provide insight into the financial statuses of President Joe Biden, former President Donald Trump, and independent candidate Robert Kennedy Jr. in their ongoing quests for the White House.

Biden’s Campaign Continues to Lead the Pack:
The Democratic incumbent’s campaign saw a significant uptick in donations during February, expanding his already substantial financial advantage over Trump. Biden ended the month with approximately $71 million in available cash in his principal campaign account – more than double the $33.5 million held by Trump’s campaign. This financial disparity became even more pronounced, as Biden had nearly $56 million in available funds at the end of January compared to Trump’s roughly $30.5 million.

Trump Faces Financial Challenges and Legal Expenses:
The Republican former president experienced a fundraising crunch during February, with legal bills alone surpassing the money his leadership PAC, Save America, brought in. In fact, legal expenses for Save America totaled nearly $5.6 million, outpacing its total receipts of approximately $5 million from MAGA Inc., a Trump-aligned super PAC. Trump’s campaign and joint fundraising committee together raised $20.3 million in February, entering March with a combined $41.9 million cash on hand.

Kennedy’s Campaign and Allied Super PAC Spending:
Robert Kennedy Jr.’s presidential bid has been accompanied by significant financial investments from an allied super PAC, American Values 2024. The super PAC spent nearly $8.8 million in February, a dramatic increase from the $1.4 million it had spent in January. Most notably, American Values 2024 spent over $6 million on a high-profile Super Bowl ad and more than $950,000 on ballot access endeavors for Kennedy.

Key Takeaways:

1. Biden’s campaign continues to dominate in fundraising, with more than double the available cash on hand compared to Trump.
2. Trump’s legal expenses have led to financial challenges for his campaign and allied super PACs.
3. American Values 2024, a super PAC aligned with Kennedy’s campaign, significantly increased its spending in February to support his efforts.

Trump’s ongoing legal troubles and fundraising challenges have forced him to take a more hands-on approach with donors, while Kennedy continues to face scrutiny over his campaign’s financial dealings and spending. The 2024 presidential race is heating up, with each candidate working to secure the necessary funds to mount competitive campaigns.

Additional Reading:
– Republican billionaires rally around Trump for April fundraiser as election heats up (News Finder)
– Longshot presidential candidate RFK Jr. to announce VP choice this month (News Finder)