Trump’s Fundraising Machine Is Barely Covering His Expenses
HOLE IN THE BUCKET
Donald Trump and his allies have been bragging about his fundraising in the wake of the Mar-a-Lago raid. He’s actually barely making anything.
Not long after the FBI executed its Aug. 8 search at former President Donald Trump’s Mar-a-Lago resort compound, Trumpworld let the media know that the feds appeared to have awakened a giant. Fundraising, they said, was booming.
But now, a new campaign finance report from Trump reveals that was just half the story—the good half.
In a Federal Election Commission filing that covers July through September, Trump’s Save America Joint Fundraising Committee revealed that the former president’s donations had indeed surged after the search, to a record high on the year. But so did the amount he spent to make that happen.
The numbers suggest that Trump’s donor base didn’t rush to his aid all on their own. They needed a nudge, and a costly one at that, which may further stoke concerns of donor fatigue.
In fact, the spending was so steep that it ate up around 90 percent of what he raised. So while the committee took in an impressive $24 million, it spent about $22 million to get there. That means the famous dealmaker spent a dollar to make a little more than a dime.
Compare that trade-off to the previous quarter, where the same committee spent just $9.7 million but pulled in $17 million. That’s a $7 million return. Now, it’s $2 million.
The spending rate undercuts some earlier reporting, where Trumpworld sources leaked news that contributions had soared in response to the news of the search.
First, it’s important to note that the Save America Joint Fundraising Committee is not the same as the Save America PAC, Trump’s flagship political group now at the center of federal and congressional fundraising inquiries. But Trump’s armada of PACs has a maddening naming convention, where many of them sound the same.
The joint committee doesn’t serve any purpose other than to raise money directly from small-dollar donors and funnel it to other Trump groups. The proceeds get split between the Save America leadership PAC and another one of Trump’s groups, called Make America Great Again PAC. This last quarter, MAGA PAC got $385,000 and Save America got $3.2 million. (The transfers were made after Save America PAC filed its September report, which showed only $22,806 in total receipts. Its August filing reports $5,879 raised. On Thursday, Save America PAC will file its October report showing the $3.2 million transfer, along with other possible receipts.)
That’s not a huge haul, especially when coupled with the costs. The news also comes amid a broader party-wide decline, as Republicans contend with a dropoff in small-dollar donors.
more:
http://www.thedailybeast.com/donald-trumps-fundraising-machine-save-america-pac-is-barely-covering-his-expenses?via=newsletter&source=DDMorning
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