High-ranking lobbyists linked to Trump lead in political expenditures
Politically, the American presidential race is heating up. As of now, groups advocating for Trump's re-election are dumping more cash into campaigns than those backing Biden.
Fans of former U.S. President Donald Trump have been pouring more money into campaigning than the organizations rallying for current President Joe Biden. Since Trump clinched the Republican nomination on March 6th, pro-Trump groups have already spent over $25 million on TV and online ads. In comparison, the Biden lobby has only loosely spent more than $15 million in the same timeframe, according to Federal Election Commission documents.
These lobby groups work alongside the candidates' official campaign teams. Notably, the largest groups fall under the label of Super-PACs. "PAC" is short for "Political Action Committee". These organizations advocate for their preferred candidate, often investing heavily in campaigning. However, they can't work directly with the candidate. Although, they can raise unlimited funds unlike the candidate's campaign teams.
Surveys indicate a tight competition between Trump and Biden
The pro-Trump supporter groups are looking to counter Biden's funding advantage in the early campaign stage with their spending spree, according to sources. By the end of April, the Democratic campaign reportedly had $84 million in their war chest, while the Trump side had $49 million. Both campaigns are due to present updated financial figures on Thursday.
Updated figures are also expected from the largest pro-Trump Super-PAC, MAGA Inc. An insider claims this PAC has a cash reserve of $93.7 million by the end of May, compared to $33 million at the end of April. MAGA Inc. has reportedly invested approximately $18 million, primarily in TV and online ads criticizing Biden's immigration policy and claiming he's too old for another term.
In contrast, Future Forward, the largest Super-PAC supporting Biden, has only spent under a million dollars since March 6th, despite having $57 million in their war chest by the end of April. The Super-PAC American Bridge 21st Century, which is close to the Democrats, has already spent over $11 million.
The election is on November 5th. In the polls, Biden and Trump are neck and neck, but Trump leads slightly in some crucial states that could swing the vote.
