Comment Former President Donald Trump’s fundraising slowed in the first half of 2022, falling below $50 million in a half for the first time since he left the White House 18 months ago. A fundraising committee that directs money to his various political groups raised $17 million in the second quarter of this year, according to a new federal filing. That brings the commission’s take to at least $36 million so far this year. The tally does not include new direct contributions to Trump’s Save America PAC, which will not be disclosed until later this month and in recent months have totaled $20,000. The PAC received $23,409 this quarter through WinRed, which processes online transactions for Republican candidates and committees. The former president’s returns are declining as his time in the White House recedes further into the past. In the same six months last year, Trump raised more than $56 million in online donations, and then raised about $51 million from July to December 2021. The latest filing puts Trump behind Florida Gov. Ron DeSantis, a likely contender for the 2024 Republican presidential nomination. DeSantis, who has thrilled conservatives nationally with his no-nonsense approach to the coronavirus pandemic, has garnered about $45 million in the first half of the year, according to state filings. Small-dollar online donations have plunged across the Democratic Party, said people familiar with the matter who spoke on condition of anonymity to discuss internal party data, blaming the trend on donors who have less disposable income due to inflation and fatigue from relentless fundraising appeals. Many Democratic incumbents in close Senate races reported record second-quarter raises, including Georgia Sen. Raphael G. Warnock, who brought in $17 million compared to GOP challenger Herschel Walker’s $3.6 million and Sen. Nevada’s Catherine Cortez Masto, who raised $7.5 million compared to GOP challenger Adam Laxalt’s $2.8 million. The new figures offer fresh evidence of the financial muscle Trump could put behind a third presidential bid as he hears from allies about a possible announcement. That dynamic could affect the timing of any potential campaign announcement as Republicans weigh whether he will clear the field and how his 2024 plans could reshape this year’s midterms. Trump and DeSantis are the dominant fundraisers in their party, with Trump maintaining a pool of support from small-dollar donors and DeSantis having won the support of some of the GOP’s most generous donors, including the hedge fund manager Ken Griffin, who recently said he would move his company, Citadel, from Chicago to Miami. Next week, DeSantis will hold a trio of fundraisers in Utah. He is seeking $25,000 from couples who attended a reception in Salt Lake City hosted by Utah Attorney General Sean Reiss and real estate developer Scott C. Keller, among others, according to invitations obtained by The Washington Post. The comparison is incomplete. DeSantis is raising money for a committee that can accept unlimited contributions, while donors can give only $10,000 a year to Trump’s joint fundraising vehicle. DeSantis also has an ongoing race he’s fundraising for — he’s up for re-election this fall. So, too, is Texas Gov. Greg Abbott (R), another possible contender for his party’s 2024 presidential nomination. He raised $29 million in the first six months of the year, his campaign said. But Trump is hardly choosing to “hang up his hat and sail off into the sunset,” as the world’s richest man, Elon Musk, advised him this week. Instead, he is traveling the country to find supporting candidates, repeating his dismissed claims of voter fraud and hinting at a third run for president. He recently told supporters in Las Vegas that he “ran twice and won twice and might have to do it a third time.” “He is not only raising money at an unprecedented rate, but investing in America First candidates and continuing to grow the MAGA movement through 2022 and beyond,” Taylor Budowich, a Trump spokesman, said in response to the new filings on Friday. The latest fundraising numbers show his online appeals continue to resonate with his base, even as House investigators probing the Jan. 6 attack on Capitol Hill accuse him of deceiving supporters with promises of a nonexistent fund dedicated to challenging electoral fraud. “Having campaigned and raised funds for President Trump since 2015, there is no stronger support and interest for him than there is today,” said Ed McMullen, Trump’s ambassador to Switzerland, who also served as his state director. in South Carolina during the 2016 presidential campaign. “President Trump’s popularity and fundraising continues to grow and thrive at every level.” Trump’s name and image dominate fundraising appeals for other GOP candidates and caucuses, a sign of his continued appeal to the party’s base. Trump has recently moved to rein in efforts by other entities to raise funds through his doors, and the tension will only intensify if and when Trump formally announces his candidacy. “The entire fundraising machinery in the Republican Party revolves around President Trump,” said Caroline Wren, a Trump-aligned GOP fundraiser who helped organize the Jan. 6, 2021, rally. “Candidates and party committees rely on President Trump’s name for their low-dollar fundraising efforts and when it comes to high-dollar fundraising, President Trump has selflessly spent the past two years raising millions of dollars for America First candidates and organizations, including headline fundraising events for every major Republican Committee.” Trump had largely built up his contributions to the PAC, but a person familiar with the group who spoke on condition of anonymity to describe its financial details said its spending increased in June. The increase came from legal bills arising from the House committee investigating the Jan. 6, 2021, riot, more transfers to support other candidates and committees and higher costs for online fundraising, the person said. Save America PAC ended June with $112 million on hand, the person said, which would be a net gain of about $11 million from the previous month. Save America PAC’s June report to the FEC is due July 20. Previous filings show the group has shelled out about $6 million in recent months to boost Trump’s preferred candidates in the Pennsylvania Senate primary and the Georgia primary. He prevailed in Pennsylvania, successfully elevating celebrity doctor Mehmet Oz over a crowded field, but failed to unseat incumbent Governor Brian Kemp in Georgia. The committee directed $75,000 in May to the law firm of a lawyer representing Cleta Mitchell, a pro-Trump lawyer who advised him on the election-rigging efforts. The attorney, John P. Rowley, did not respond to a request for comment. Trump’s PAC has also continued to spend money on his properties, directing about $30,000 in recent months to the Trump hotel collection. There are no clear restrictions on the personal use of funds raised by leadership PACs. Such committees, in addition to supporting like-minded candidates, can be used to pay consultants, cover travel expenses, and pay legal bills, among other expenses. One limitation, campaign finance law experts said, is that the people behind such PACs cannot use the money to promote their future campaigns. Travel expenses and other expenses to promote a candidate’s political activities are subject to contribution limits once the candidate files for a particular office, these experts said. Even transferring those funds to a super PAC that makes independent expenditures boosting the candidate would likely draw complaints if the money “founded the super PAC or is the majority of the money that funds the super PAC,” said Charles Spies, a Republican. election lawyer. Trump’s committee reported its dividends as its fundraising practices come under scrutiny from the House select committee investigating the Jan. 6 attack on Capitol Hill. Amanda Wick, a committee investigator, highlighted in a hearing last month how Trump and his allies raised $250 million in the weeks after the election by bombarding his supporters with fundraising emails promoting an “Official Election Defense Fund.” even though there was no such fund. “There wasn’t just the big lie,” said Rep. Zoe Lofgren (D-Calif.). “There was the big twist.” A Trump spokesman did not respond to a request for comment on the allegations. Renato Mariotti, a former federal prosecutor who focused on securities and commodities fraud, said the Justice Department was unlikely to bring charges related to the fundraising practices highlighted by the commission. Prosecutors will face a number of challenges, he said, including proving the authors of the solicitations intended to deceive and countering a potential defense that donors would have supported regardless of the substance of the appeal. Such appeals continue. Four emails sent in May by Trump’s PAC, for example, asked donors to contribute to a “Protect Our Election Fund.” One subject line: “Warning of Future Election Fraud.” He implored supporters: Contribute at least $45 or more DIRECTLY to our Election Protection Fund.” Josh Dawsey, Dylan Freedman, Anu Narayanswamy and Chris Zubak-Skees contributed to this report.
