President Donald Trump has more than $50 million in the bank for his 2020 reelection bid, far more than any contender for the race, according to reports filed on the evening of July 15 with the Federal Election Commission.
Presidents serving their first term usually wait until after the midterm elections to start raising funds for reelection. Trump began spending money on his reelection weeks after winning the 2016 election. He was also the first president in history to file official reelection paperwork with the FEC on the day of his inauguration.
The president hosted nine rallies before his inauguration and 19 more since taking office. The slogan for his 2020 campaign is “Keep America Great!”
Small donations from individual supporters make up the majority of Trump’s fundraising receipts. Out of the $18 million the president raised from April to June this year, more than half came from individual donors contributing $200 or less. Meanwhile, Trump Victory, a joint fundraising committee established to collect large donations from wealthy contributors, collected $4.4 million.
The campaign has so far spent $1.3 million with a firm owned by Brad Parscale, the campaign manager. The expenses are marked as “digital consulting/online advertising.”
The campaign’s expenses on legal fees dropped by more than half in the last three months compared to the prior quarter. The fees totaled $340,000 in the most recent filing, compared to $800,000 in the prior quarter.
During the 2016 election, Trump spent far less on advertising and consulting fees than other candidates, relying instead on ample media coverage and frequent rallies. By the time he won, Trump had spent $438 million less than his opponent, Hillary Clinton.
