(RepublicanDaily.org) – Former President Donald Trump has started funding for his anticipated 2024 Presidential election campaign. The funds he gathered in his first official campaign fundraising were “relatively weak,” The New York Times reported.
The initial round of Trump funding came under $10 million, Bloomberg reported. The former president reportedly raised $4.9 million. Trump’s campaign spanned the last 33 days of 2022.
Donald Trump’s early funding falls behind the per-day averages of Mitt Romney, Hillary Clinton, and Jeb Bush’s presidential campaigns.
Trump reportedly had a previous “knack” for generating a large sum of campaign funding with “just a phone call or an email.” Yet, in this first week of his third presidential campaign, Trump has brought in a lower sum of funds than his previous campaigns and even other candidates.
Major media outlets have critiqued Trump’s campaign, analyzing that this third campaign will be “nothing like” his previous ones. Critics called Trump’s early 2024 campaign launch “disastrous” and said that it was bleeding its supporters, Time Magazine reported. The House January 6 committee inquiry making a historic criminal referral into the former president, and one of Trump’s companies is being fined for tax fraud were all reported reasons for the campaign’s false start.
Donald Trump’s $4.9 million direct campaign funding is a small sum compared to his campaign “war chest.” Since the 2020 campaign, Donald Trump has raised around $100 million from political action committees, a sum that Business Insider referred to as a war chest.
However, Save America, the PAC that Trump has primarily raised this sum through, cannot legally be converted from a PAC group to a presidential campaign organization. Because of this, Trump will not be able to directly use the funds from his PAC fundraising.
Trump will reportedly seek a legal loophole, by transferring some or all of these funds to a “super PAC” created on September 23 called “MAGA Inc.” That committee could then be used to run political ad campaigns, which would indirectly boost the Trump 2024 presidential campaign.
MAGA Inc. is scheduled to hold an official fundraiser at the end of February at the Mar-a-Lago resort, The New York Times reported.
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