The Haley Campaign Revisited: Crowdfunding in the First Three Months After the Indictment on Donald Trump’s Incrimination
Trump’s campaign previously said on March 31 that it had raised $4 million in the 24 hours since his indictment was first announced. The former president has pleaded not guilty to 34 felony criminal charges of falsifying business records.
The campaign said that the legal troubles have helped him both politically and financially, and that he has been rejuvenated as he campaigns for a third shot at the presidency.
On Friday, the former president filed a personal financial disclosure report with the FEC, which gives the public a first look at his post-presidential finances. The 101-page report provided some new insights into Trump’s finances since he left office, including his social media business venture, and last year’s sale of digital trading cards known as NFTs, or non-fungible tokens.
Donald Trump was indicted on criminal charges, which caused his fundraise to plummet. The GOP presidential candidate faces questions about her campaign math. Embattled New York Rep. George Santos refunded more contributions than he took in. And some – but not all – of the Democratic Party’s most vulnerable Senate incumbents have stepped up their fundraising ahead of tough 2024 election fights.
The committees connected to Haley raised more than $8 million, which is still a large amount for a first-time presidential candidate, but not as much as the campaign claims.
The campaign appears to have double-counted money routed among Haley’s fundraising committees, overstating the topline figure.
One of the main metrics of support for a campaign is raising money, and candidates often try to tout their big numbers before their official paperwork is filed.
In an email to CNN on Sunday, Haley campaign spokesman Ken Farnaso defended the $11 million figure, saying the accounting mirrored how other candidates have previously described their fundraising.
Embattled Rep. George Santos’ campaign refunded more contributions than it took in during the first three months of the year, according to a campaign report the New York Republican filed Saturday.
The congressman from Long Island received more than $5,333 in donations in the first quarter, as well as refunds of over $8,000 in donations. A sitting member of Congress is not usually seen to have a net loss on a finance report.
By contrast, another first-term congressman, Republican Anthony D’Esposito, who represents a neighboring district, reported more than $670,000 in receipts during the first quarter, including more than $300,000 from political action committees and other lawmakers’ campaign committees.
Fundraising in the First Quarter of the 2024 Reelection Cycle: After Moreno and Dolan Joined the Congressional Campaign
Santos, who has lied about his education, work history and family background, faces a House ethics inquiry, along with local and federal investigations into his finances.
His campaign reported $25,000 in remaining cash and $715,000 in debt, as of March 31, which he said was personal funds he lent to his successful 2020 effort for New York’s 3rd Congressional District.
Last month, Santos formally filed paperwork for a 2024 reelection bid, but it followed a demand from the FEC that he declare his intentions after he crossed a fundraising threshold that required him to file a statement of candidacy.
Adam Schiff outraised the other candidates in the race to replace Dianne Feinstein in the first quarter with more than seven million dollars raised.
Porter had more than $9.4 million in cash on March 31 and transferred almost $11 million from her House campaign into her Senate account. Lee had more than a million dollars in available cash.
Although she is facing calls from some Democrats to retire now that she has shingles, Feinstein is the oldest senator at 89 and will not seek reelection next year.
Sinema continued to caucus with her former party after she changed her affiliation from Democrat. She has not formally declared an intention to seek a second term. She has the resources to compete in a three-way election. She ended March with nearly $10 million in available cash to Gallego’s $2.7 million.
Mark Lamb is the first major Republican candidate to enter the race, but he will not file his first fundraising report until July.
Democratic Sen. Sherrod Brown of Ohio – who is seeking a fourth term in what will be one of the most closely watched contests of the 2024 cycle – raised more than $3.5 million in the first quarter, up from the roughly $333,000 he collected during the last three months of 2022.
Several Republicans have lined up to challenge Brown, including Cleveland businessman Bernie Moreno and former state Sen. Matt Dolan, whose family owns the Cleveland Guardians Major League Baseball team.
Saturday’s filings show Dolan collecting $3.3 million – most of which he loaned his campaign. The first-quarter fundraising period ended in April, and that’s when Moreno joined the race.
Jon Tester, an incumbent facing a tough reelection battle in Montana, had $7 million of his own cash on hand and raised $5 million in the first quarter.
Manchin, who is a Democrat, has not yet said if he will run for a third term in two years. He pulled in just $370,000 in the first quarter but was sitting atop a $9.7 million war chest of available cash as of March 31.