The Republican National Committee (RNC) is facing financial challenges as it reports its lowest cash on hand figure in a decade, while their Democratic counterparts enjoy a significant cash advantage. This discrepancy is coming to light as we delve into the campaign funds of President Joe Biden and former President Donald Trump, as well as their spending strategies thus far.
Biden's campaign has approximately $13 million more cash on hand compared to Trump's campaign, which is expected given that incumbents tend to raise more money than challengers. However, when analyzing the fundraising efforts of the Democratic National Committee (DNC) in addition to Biden's campaign, the combined amount of funds greatly surpasses those of the Republicans. As the new year begins and with potential expenditures in swing states looming, this cash advantage is a significant asset for the Democrats, especially considering Biden's current polling numbers.
While Biden cannot put his campaign funds towards a future campaign, Trump has been utilizing an astonishing amount of money on legal fees, according to reports. Trump's affiliated political action committees (PACs) have reportedly spent $55 million within the past year on legal expenses alone. Interestingly, the spending on legal fees has increased in the second half of the year compared to the first half. Consequently, the substantial amount of money dedicated to legal battles has contributed to the financial challenges faced by Republicans at this stage.
This considerable expenditure on legal fees has sparked criticism from figures like Nikki Haley. She points out that with Trump spending such a significant portion of his campaign funds on legal matters, it raises doubts about his ability to prevail against Biden. The context surrounding these legal fees indicates that if not for such expenses, Trump's campaign and affiliated PACs would have had significantly more funds available.
The outcome of the ongoing legal battles is an important factor to consider as they largely shape the campaign going forward. Trump's campaign spending in the court system demonstrates his willingness to use legal means to support his campaign efforts. However, the extent to which these legal battles impact voters remains to be seen. The outcome of four separate criminal trials involving Trump could prove to be a vital X factor. Presently, Trump holds a four-point lead across key swing states. However, if he were to be convicted and sentenced to prison, polling suggests that Biden's lead could extend to 10 points, indicating a potential 15-point swing.
Consequently, the dates and outcomes of these trials carry significant implications for the future direction of the campaign.
