Former President Donald Trump is trailing President Biden in fundraising efforts, prompting the formation of a joint fundraising committee with the Republican National Committee (RNC). The committee, named the Trump National Committee JFC, recently filed paperwork with the Federal Elections Commission.
Trump, now the presumptive 2024 Republican nominee, has taken control of the RNC and appointed allies to key positions. Biden's campaign has outpaced Trump's fundraising, with a significant cash-on-hand advantage.
Both candidates rely on joint fundraising committees for additional support, with details to be disclosed next month. The DNC has also outperformed the RNC in fundraising.
The new joint committee will enhance coordination between the Trump campaign, RNC, and state GOP chapters. This move is expected to bolster Trump's fundraising efforts, especially with the support of prominent Republican donors.
A high-dollar fundraiser hosted by billionaire John Paulson in April aims to rally major GOP donors around Trump. Notable figures like Robert Mercer and Steve Wynn are among the co-chairs of the event.
Despite past tensions, Trump has been working to mend relationships with Republican donors, resulting in increased support for his campaign. The fundraiser signifies a unified front among GOP donors in backing Trump for the 2024 elections.
Trump's mounting legal expenses have strained his campaign finances, with funds from the Save America PAC primarily allocated to cover legal costs. Concerns among donors regarding the allocation of funds have led some to consider supporting independent expenditure groups instead of direct contributions to Trump.
As the November election approaches, Trump's fundraising efforts and financial challenges remain in the spotlight, shaping the dynamics of the 2024 presidential race.
