Biden’s money machine, Trump’s legal bills and other takeaways from the 2024 money race
In the run-up to the 2024 US elections, both President Biden and former President Trump have been amassing significant campaign funds. Biden entered the year with more than $117 million in cash after ramping up his campaign operation in 2023. Despite this, polls in battleground states indicate he is falling behind Trump. Trump’s fundraising committee brought in $75 million in the second half of the year, largely from small-dollar donors. However, his legal expenses have significantly drained his resources. Other Republican contenders, such as Nikki Haley, have also been conservative with their campaign spending. The former U.N. ambassador raised $17.3 million and spent $14.3 million in the final quarter of 2023. These finances have allowed her to remain competitive against Trump. Meanwhile, both parties are involving themselves in Senate primaries.
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