In the first three months of the year, former President Donald Trump’s fundraising operation saw an increase in donations, while Democratic Senate and House candidates reported significant quarterly hauls as the battle for Congress heats up. The fight for control of Congress is expected to be determined by a few key seats in the upcoming fall elections, with Democrats and Republicans defending narrow margins in both the Senate and House.
Democratic incumbents and nonincumbents raised millions in the first quarter, building cash reserves for expensive general election campaigns. Republican megadonors, including TD Ameritrade founder J. Joe Ricketts and former Georgia Sen. Kelly Loeffler, donated to the Trump 47 Committee, which raised over $23 million in the first quarter. The committee transferred $10 million to the Republican National Committee, which was facing a cash shortage at the beginning of the year.
Trump’s fundraising efforts are ramping up as he faces tough competition from President Joe Biden’s well-funded campaign. Biden and the Democratic Party raised $90 million in March, compared to Trump’s $65.6 million with the Republican Party. Biden’s campaign entered April with a war chest of $192 million, double that of Trump and the GOP.
Several Democratic Senate incumbents in battleground states raised significant funds in the first quarter, preparing for well-financed Republican challengers. Democratic candidates in open battleground seats also reported massive fundraising hauls, outpacing their GOP opponents. Self-funding Senate GOP candidates, like Ohio businessman Bernie Moreno and former hedge fund executive Dave McCormick, are contributing additional funds to their campaigns to offset the fundraising disadvantage faced by the Republican Party.
In the House, both Democratic and Republican candidates in battleground districts are raising substantial sums of money. Democratic candidates in key races are outperforming their Republican counterparts in fundraising efforts. Progressive members of the House ‘squad’ are facing strong primary challenges, with fundraising efforts playing a crucial role in their campaigns. Republicans who voted to oust House Speaker Kevin McCarthy are also facing tough primary battles, with notable support from Trump and other key figures.
Celebrity donors are contributing to various political campaigns, with actor Sean Penn and “Family Guy” creator Seth McFarlane among the notable donors. Media personalities such as John Avlon, a former CNN anchor, are also receiving support in their bids for political office. Former Republican Rep. George Santos, facing federal charges, is challenging an incumbent as an independent candidate but has reported zero fundraising in the first quarter.
