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NYTimes
New York Times
21 Jul 2024
Albert Sun


NextImg:Trump’s Conviction and Biden’s Poor Debate Sent Big Money Into the Race

A pair of seismic events in May and June unleashed gushers of money into the presidential fund-raising race — and that was before an assassination attempt on former President Donald J. Trump.

New campaign-finance filings released this week revealed the degree to which Mr. Trump’s conviction on 34 felony counts on May 30 and Mr. Biden’s disastrous debate performance on June 27 became seminal moments in the fund-raising race. Just how much the attempted assassination on July 13 transformed the money battle will not be known until sometime next month, when additional filings will be made public.

Mr. Trump entered July in a better financial position than Mr. Biden — and Republicans were able to gain that upper hand largely because of Mr. Trump’s felony conviction.

Mr. Trump has supercharged the Republican National Committee since he became the party’s presumptive nominee in the spring. The R.N.C., which had as little as $9 million in cash on hand at end of January, ended June with $102 million in its coffers, nearly double the $54 million it had at the end of May.

The committee’s cash increase is primarily a downstream effect of an enormous spike in small-dollar fund-raising after Mr. Trump’s conviction, according to filings from campaign committees and data released earlier this week from the Republican fund-raising processing firm WinRed. Mr. Trump and allied Republican groups raised roughly $69 million from May 30 — the day of his conviction — to May 31. The $34.5 million or so raised on each of those days more than doubled the record for the best online fund-raising day of the entire campaign by either party.


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