Trump Campaign Reported Raising $21 Million, $19.2 Million Cash-on-Hand
The Trump Campaign raised over $21 million for the fourth quarter (Q4) 2018, with 98.5% coming from donations of $200 or less.
Fundraising totals for the quarterly report were submitted to the Federal Elections Commission (FEC) on Thursday. They reflect both direct contributions and contributions raised through its joint fundraising committees with the Republican National Committee (RNC).
“Midway through the first term of his presidency, President Donald Trump continues to deliver on his campaign promises to the American people and they continue to demonstrate their support for him in contributions to his reelection campaign,” Michael Glassner, Chief Operating Officer said in a statement.
“Significantly, grassroots support for the President has remained both steady and historic, with the vast majority of our fundraising coming from contributions of $200 or less.”
Despite losing control of the U.S. House of Representatives, while increasing the Republican majority in the U.S. Senate, the president’s campaign is poised to raise more money since taking the oath of office than he did as a first-time candidate.
The Trump Campaign closes out the calendar year with $19.2 million cash on hand (CoH).
“Low-dollar” contributions are indicative of grassroots enthusiasm and working-class support, one that is a clear and consistent trend for the campaign in 2018.
During the 2016 election, the then-Republican presidential candidate was a less-than prolific fundraiser juxtaposed to his opponent, Hillary Clinton. But he also spent far less time with bundlers than he did on the campaign trail.
In September 2016, the campaign announced raising a record $90 million in the heat of August, a personal record at the time but still far short of the $143 million haul for Mrs. Clinton.
That was and remains in large part due to the shift in big money politics in the era of President Trump. Though the securities and finance industry still hedges, Wall Street campaign contributions have shifted significantly over the last two cycles.
The securities and finance industry contributed $87,965,257 to Hillary Clinton, a stunning 80.8% of the total $108,807,888 given in two-party contributions.
That compares to the $20,842,631 contributed to then-Republican nominee Donald Trump, a paltry 19.2% of the total. The broader finance, insurance and real estate sector gave just $37,873,136 to President Trump, while they contributed a whopping $117,318,552 to Mrs. Clinton.
In 2018, the securities and finance industry donated more to Democrats than Republicans for the first time in a decade.
Democratic candidates and political action committees (PACs) received $57,144,009 in Wall Street campaign contributions, or 62.8% of the total $91,338,283. Republicans received $33,860,538, or 37.2% of total in donations from the securities and finance industry.
The broader sector of finance, insurance and real estate followed a similar pattern. In 2018, it contributed $150,087,616 to Democrats juxtaposed to $128,189,429 to Republicans.
Worth noting, spending by the Trump Campaign ramped up in Q4 2018 as the president went “all in” to defend Republican majorities in Congress ahead of the 2018 midterm elections.
For the prior three cycles, spending by the campaign averaged just over $5 million. For Q4, it exceeded $23 million. That includes expenditures on rallies, campaign ads, direct transfers to the RNC, and direct contributions to candidate committees.
In July 2018, the Trump Campaign and RNC transferred $8 million to the National Republican Senatorial Committee (NRSC) and the National Republican Congressional Committee (NRCC).
The Trump Campaign alone maxed out to nearly 100 candidates in its first round of contributions.
“This is a true testament to President Trump’s fulfillment of his promises made to the forgotten men and women of America,” Mr. Glassner added. “We’re grateful for their generous support of the Trump Campaign.”