[News]Alarm bells for DeSantis, Pence falls behind and Biden stays frugal: Takeaways from new campaign finance reports

[Maheso]

 
The first full financial look at the 2024 presidential race came into focus over the weekend as candidates filed campaign finance reports with federal regulators. They highlight potential trouble spots for Florida Gov. Ron DeSantis, a skeletal campaign operation for the current White House occupant and a wide chasm between the early fundraising leaders in the Republican primary and the rest of the field.

The filings also show at-risk Senate Democrats continuing to amass big sums as they scramble to defend their party’s narrow majority next fall. Republican freshmen in competitive House seats, meanwhile, demonstrated a strong start.

Here are takeaways from the second-quarter fundraising reports for the three months ending June 3

DeSantis’ burn rate
The Florida governor raised $20 million – a strong total – but his campaign is burning through cash at a rapid rate, spending nearly $8 million since he entered the contest in late May, according to its filing Saturday with the Federal Election Commission.

Travel and payroll expenses each topped $1 million, and more than $800,000 went to digital fundraising consulting, according to the campaign’s report. As of the end of June, DeSantis employed 90 people, compared to nearly 40 people employed by the campaign of former President Donald Trump, the current GOP primary front-runner.

Republican presidential candidate Florida Gov. Ron DeSantis speaks during the Tennessee Republican Party Statesmen's Dinner, Saturday, July 15, 2023, in Nashville, Tenn. (AP Photo/George Walker IV)
DeSantis fundraising slowed after initial campaign launch, filing shows
On Saturday, a DeSantis campaign aide confirmed that the team had recently trimmed some staff.

“Defeating Joe Biden and the $72 million behind him will require a nimble and candidate driven campaign, and we are building a movement to go the distance,” campaign spokesperson Andrew Romeo said in a statement.

The latest filing underscores another warning sign for DeSantis: A small share – less than 15% – of his contributions from individuals came in amounts of $200 or less. Robust small-dollar donations can offer a sign of grassroots momentum behind a campaign, and supporters who contribute small amounts can be tapped repeatedly for donations before hitting the maximum $3,300 an individual can legally donate in primary elections.

DeSantis entered the second half of the year with $12.2 million remaining in the bank, but only about $9 million of that is available for spending in the GOP primary. DeSantis collected some $3 million in general election money from maxed-out donors that can only be spent if he secures his party’s nomination.

 

https://edition.cnn.com/2023/07/16/politics/fundraising-reports-desantis-trump-biden/index.html