Trump's $130M August Haul: 98% Small Donors as Harris Race Heats Up
Trump's campaign reports $130 million raised in August, with 98% from small donors. Harris' fundraising surges post-Biden exit, intensifying the presidential race two months before election day.
In the latest development of the 2024 U.S. presidential race, Donald Trump's campaign has reported raising $130 million in August, showcasing the former president's continued fundraising prowess. This figure, while slightly lower than the previous month, demonstrates strong grassroots support with 98% of donations coming from contributors giving less than $200.
The average donation to Trump's campaign stood at $56, reflecting the importance of small-dollar donors in modern political fundraising. This trend has become increasingly significant since the 2010 Citizens United Supreme Court decision, which reshaped campaign finance regulations.
Meanwhile, Vice President Kamala Harris, who assumed the top spot on the Democratic ticket following President Joe Biden's withdrawal from the race in late July, has seen a substantial boost in fundraising. In the five weeks following this transition, the Harris campaign reported an impressive $540 million haul, demonstrating the energized Democratic base.
"With Republicans united and a growing number of Independents and disaffected Democrats crossing partisan lines, the Trump-Vance campaign has momentum for the final stretch of the race."
The Harris campaign is leveraging its financial advantage to support down-ballot races, allocating nearly $25 million to boost Democratic candidates in other elections. This strategic move represents the largest such investment in a presidential cycle, highlighting the interconnected nature of national and local politics.
As of August 31, 2024, the Trump campaign reported $295 million cash on hand, a slight decrease from the $327 million at the beginning of the month. This substantial war chest positions the Republican nominee for a strong push in the final two months of the campaign.
The intensifying fundraising battle between Trump and Harris occurs against the backdrop of the most expensive U.S. election cycle in history. The 2020 presidential election cost a staggering $14 billion, and the 2024 race is on track to surpass that figure.
As the general election campaign enters its crucial phase, both candidates are expected to participate in presidential debates, typically held in September and October. These events, along with increased advertising and grassroots efforts, will likely drive further fundraising activities for both campaigns.
With the Electoral College system determining the ultimate victor, both campaigns are strategically allocating resources to key battleground states. The coming weeks will be critical as Trump and Harris vie for the support of independent voters and work to energize their respective bases in the lead-up to Election Day.
