Trump’s campaign may be facing major financial issues

Is Donald Trump’s presidential campaign cutting costs? Reports suggest that the former president is having financial issues following his recent legal problems. Here is what we know about Trump’s current campaign finance situation. 

The Telegraph reported the former president’s campaign was cutting costs and seeking out new funding avenues for Trump’s election run. Whether or not the accusation is true is difficult to know, but there is some supporting evidence. 

For example, in February, Trump’s Federal Election Commission filings showed that his campaign only had $30.5 million heading into the month according to Politico. That may sound like a lot but it’s nothing compared to previous days. 

Joe Biden’s campaign had a total of $56 million in cash on hand but even when Biden’s campaign cash is added to Trump’s money, it doesn’t come close to the 92.6 million war chest that the former president had in February 2020. 

Politico pointed out that donor fatigue at the top level, but more specifically from smaller donors that powered both men’s 2020 campaigns was suffering, leading to both Trump and Biden keeping their 2024 campaign budgets tight. 

Trump has been “blowing through tens of millions of dollars on legal costs to stay on the campaign trail and forestall a possible prison sentence” according to Politico, Which is a claim that The Telegraph also echoed in its reporting. 

The former president has been working to win back “deep-pocketed” Republican donors who funded Trump’s rivals, but many are worried that their campaign contributions could be used instead to help cover the cost of his legal fees. 

Trump owes more than $455 million in his New York state business fraud case and has already posted a $92 million bond to settle the cost he incurred for his defamation case against E. Jean Carrol. Plus his costs are only growing. 

The former president still has to fend off four criminal indictments and reports in January showed that Trump’s Save America political action committee (PAC) and Make America Great Again PAC spent lavishly on his legal issues in 2023. 

The Save America and Make America Great Again spent $55 million of donor money on Trump’s legal bills according to Federal Election Commission filings that were quoted by The Washington Post. The costs are more outrageous than you think. 

CNN noted that 85% of the spending from the Save America PAC in 2023 was used on his legal bills, leaving the important fundraising vehicle with only a minuscule $6 million in cash on hand at the end of January 2024. 

Trump’s campaign advisors seem to understand the problems that his bid for reelection if it runs out of cash too early in the race and have been working to scale back spending and ensure the former president fights to November. 

Senior Advisor Chris LaCivita has privately complained about Trump’s large rallies and said they were too expensive according to CNN. LaCivita has worked to make Trump’s rallies both smaller and more cost-effective. 

Some campaign rallies have even been stopped due to their large costs, which is more evidence suggesting that the former president is reining in costs. Costs associated with transposition, hotels, meals, and other everyday expenses have also been scaled back. 

“Anyone that’s ever worked on a campaign knows that, at the headquarters, the furniture should be functional, and that’s it. Mismatched and functional is the decor of the Trump campaigns’ offices,” one senior advisor explained to CNN. 

At the beginning of March, Trump met with Elon Musk and other prominent Republican donors in Florida, allegedly hoping to get an infusion of cash according to the New York Times. So it is possible that the former president's campaign really is suffering.