Former President Donald Trump announced another run for the White House, and he has a massive war chest to back it up, but questions remain on how much money the former president has for his campaign.
In the past two years, Trump has been raising funds, mainly through his Save America PAC, in anticipation of a third presidential run in as many elections. The Save America PAC has raised over $100 million from the beginning of 2021 through Oct. 19, 2022, per the Federal Election Commission. The latest cash-on-hand numbers say the PAC has more than $69 million.
The leadership PAC has been used for personal expenses and other payments related to boosting other candidates. Because Trump has declared himself a candidate, he will now be under stricter campaign finance laws. Now that he has declared his candidacy, he must be more transparent about expenses related to the campaign.
People are currently only able to contribute $2,900 to a federal candidate for an election cycle, per the FEC.
Earlier this year, Trump’s associates launched the MAGA Inc. super PAC, which allows his supporters to spend endless amounts of money for his campaign.
Trump’s campaign finance is already under scrutiny as the watchdog Campaign Legal Center filed an FEC complaint against Trump on Monday for transferring $20 million from the Save America PAC to MAGA Inc., saying he was attempting to evade finance laws.
Trump’s war chest should benefit him in the primary race as he is expected to face challenges from several high-profile candidates with good funding, with three GOP megadonors already saying they will back Florida Gov. Ron DeSantis over Trump for 2024.