Trump's 2023 Fundraising Takes Major Hit As Legal Bills Consume One Quarter, Super PACs Drain Millions For Ongoing Battles

Supporters of Donald Trump reportedly contributed $188 million in 2023 for his potential return to the White House, but significant legal expenses are draining his funds.

Trump’s campaign and allied political entities retained $65 million for GOP contests, but super PACs spent nearly $48 million on his legal fees in 2023, The Wall Street Journal reported. 

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Released recently by the Federal Election Commission, the most recent figures provide a transparent financial snapshot of the presidential candidates entering the 2024 election season, the report read. 

The data reveals substantial spending on advertising, staff salaries and other costs, it added.

With most of Trump’s GOP rivals exiting the race, his campaign and allied super PACs are poised to attract most of these donors. However, the extent to which they will transition to supporting the former president remains uncertain. 

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Data from AP VoteCast reveals that at least 20% of Republican-leaning voters in the New Hampshire primary expressed reluctance to back Trump, even if he secured the party’s nomination, per The Wall Street Journal.

In contrast, President Joe Biden‘s campaign, along with the Democratic National Committee, reported finishing the year with $117 million in cash reserves. 

Biden’s re-election campaign and the DNC collectively generated over $97 million in the last quarter of 2023. 

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The Republican National Committee faces constraints in raising additional funds for Trump until he secures the nomination, a process that has faced scrutiny from some party insiders due to weaker fundraising.

A significant super PAC backing former South Carolina Gov. Nikki Haley, named the SFA Fund, amassed $50.2 million in the latter half of the year. However, the fund concluded 2023 with only $3.5 million in cash, as Haley remains the sole GOP contender against Trump. 

Haley’s personal campaign committee retained $14.6 million in cash by the end of the year.

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As of Dec. 31, Ron DeSantis‘s presidential campaign held $9.7 million in the bank, with $9.3 million expended during the quarter. 

The campaign received $3.4 million in individual contributions. DeSantis withdrew from the race before the New Hampshire primary and endorsed the former president.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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