Joe Biden – Courtesy: Shutterstock – Image by lev radin
Wealthy GOP donors aim to raise over $33 million at a fundraiser next week for their presumptive nominee and the Republican National Committee, which would surpass the astounding $26 million that Mr. Biden raised in New York on Thursday. This is in response to former President Donald Trump and his Republican allies trying to reduce President Biden’s financial advantage.
According to an invitation obtained by CBS News, the fundraiser, scheduled for April 6 in Palm Beach, Florida, will prioritize donations to the Trump campaign and Save America PAC, the political action committee covering the majority of Trump’s legal bills, before splitting the proceeds with the Republican National Committee and state parties. Details of the event were initially published by The Financial Times.
The GOP fundraiser occurs as the Biden campaign has been bolstering its financial lead over Trump and the RNC in recent weeks by flexing its fundraising skills. The campaign described the glamorous event at Radio City Music Hall in Manhattan, where Mr. Biden made an appearance alongside former presidents Bill Clinton and Barack Obama, as the most lucrative political fundraiser in American history.
With $71 million in cash on hand at the beginning of March, the president’s reelection campaign had more than doubled the amount that the Trump campaign had at the beginning of the month. Including funds from the Democratic National Committee and associated joint fundraising groups, Biden’s war chest totaled $155 million.
On the other hand, at the beginning of the month, the Republican National Committee, the Trump campaign, and the political action organizations that back him possessed little more than $74 million in cash.
While they are unlikely to gather as much money as Mr. Biden and the Democrats, Trump campaign representatives told CBS News that they have raised over $10.6 million in small-dollar internet donations last week and have raised more than $1 million per day over the last six days.
It won’t be possible to independently verify the party’s March funding totals until the following month, when the federal campaign finance filings will be updated.
The requested donation for each guest attending Trump’s upcoming fundraiser in Florida is between $250,000 and $814,000. The Trump campaign will get up to $6,600 in direct funding, with the remaining $5,000 going to Save America PAC, subject to each organization’s legal cap. The RNC and state parties around the nation will then receive the remaining funds.
The Trump 47 Committee is a fundraising committee that uses unconventional methods to transfer funds to Save America PAC. It’s a new avenue by which GOP donors may wind up footing the tab for at least some of Trump’s escalating legal expenses, which have already topped $10 million this year.
The dinner invitation, with speakers including South Carolina Senator Tim Scott, North Dakota Governor Doug Burgum, and Vivek Ramaswamy, had fine print stating that donors may designate how their contribution is split.
The fundraiser’s presenter, billionaire hedge fund manager John Paulson, told CBS News in a statement that “we’ve raised over $33 million so far.” “The response to our fundraising efforts has been overwhelming.” A wide range of donors have shown a great deal of support. We are about at our cap and the dinner is somewhat tiny in scope.”
More than thirty-six people have been invited to co-chair the fundraiser, including former Commerce Secretary Wilbur Ross, New York Jets owner and U.S. ambassador to the United Kingdom Woody Johnson, and casino moguls Steve Wynn and Phil Ruffin.
Trump was permitted to begin fundraising alongside the RNC when he emerged as the presumed GOP contender for president earlier this month, and he promptly took steps to reorganize the committee’s leadership. He appointed his daughter-in-law Lara Trump and former North Carolina Republican Party leader Michael Whatley to lead the organization. Following the mass layoffs, prospective new hires were asked if they thought the 2020 election was rigged.
James Blair, a top Trump campaign adviser, and Chris LaCivita, the co-campaign manager, are also collaborating with the RNC, but they will continue to work for the Trump campaign.
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Chris began his writing as a hobby while attending Florida Southern College in Lakeland, Florida. Today he and his wife live in the Orlando area with their three children and dog.
