President Trump has a big advantage over his Democratic competitors.
President Trump’s re-election team announced a massive fundraising haul Tuesday of a whopping $105 million in the last three months, with an additional $100 million in the bank, far outpacing any predecessor or Democrat currently running.
The presidents 2020 campaign and associated committees raked in $54 million in the second quarter of the year, while the Republican National Committee raised another $51 million. In the 24 hours surrounding his official re-election announcement in Orlando last month, both entities brought in $24.8 million, more than one million dollars per hour.
“Our massive fundraising success is a testament to the overwhelming support for President Trump,” Campaign manager Brad Parscale said. “No Democrat candidate can match this level of enthusiasm or President Trump’s outstanding record of results.”
The campaign and RNC doubled its online fundraising from $31 million in the first six months of 2018 to $62 million in the same period this year, notably raising more through small-dollar internet donations in the second quarter than the whole first half of last year.
The massive haul gives Trump and the GOP a head start over the president’s eventual Democratic challenger. Roughly two dozen Democratic candidates are scrapping for support – and dividing donors – in the early days of the party’s 2020 presidential primary.
Trump is the only president ever to file re-election paperwork on the day he was inaugurated, which gives his campaign a tremendous advantage in terms of raising money and reaching new donors during his time in office.
“The RNC’s record-breaking fundraising has allowed us to identify troves of new supporters online and continue investing in our unprecedented field program,” RNC Chairwoman Ronna McDaniel said.
Trump starts with a significant edge over his potential competitors. For instance, Pete Buttigieg – who has ranked within the top five in most recent national polls of the Democratic primary – raised $24.8 million in the second quarter. He finished June with $22.6 million on hand – less than half of what Trump had.
Former President Barack Obama’s re-election team had raised $86 million at this point in 2011, about $47 million from the campaign and $38 million from the Democratic National Committee.
President Trump’s entire 2016 campaign raised a total of $333 million and Parscale has said he believes they may spend $1 billion this time around, which would be three times more than what Trump’s campaign spent in 2016.
The full list of donors, including how many contributions were under $200, will not be released until the campaign files an official report with the Federal Election Commission, which is expected by July 15.
Other contenders such as former Vice President Joe Biden and Sens. Kamala Harris and Elizabeth Warren have yet to reveal their recent fundraising totals.