CNN
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Kamala Harris supercharged Democratic fundraising in July after taking on the top of the party’s presidential ticket, new federal filings present, serving to erase what had been an rising money benefit for Republican nominee Donald Trump.
The brand new filings additionally present impartial presidential candidate Robert F. Kennedy Jr. dealing with dwindling marketing campaign assets and refunding contributions from his working mate, who stated on a podcast posted Tuesday that the marketing campaign is considering exiting the race and endorsing Trump.
In the meantime, distinguished outdoors teams funded by prime megadonors raked in hundreds of thousands amid the remodeled presidential race, and spent hundreds of thousands extra on recharged promoting campaigns.
Listed here are takeaways from the newest spherical of month-to-month filings with the Federal Election Fee, which cowl fundraising and spending exercise for July, together with the three weeks earlier than Biden dropped out of the presidential race and backed Harris.
Harris’ principal marketing campaign committee reported about $220 million in money readily available on the finish of July, an enormous leap from the almost $96 million that the committee reported at first of the month, when it was nonetheless underneath President Joe Biden’s management.
Harris’ financial institution stability additionally bested the $151 million the Trump marketing campaign reported in its principal account on July 31. It’s a dramatic reversal from the tip of June, when Trump led Biden in money readily available by greater than $30 million ($128 million to $96 million).
Each Harris and Trump increase most of their marketing campaign funds via joint fundraising committees, which break up proceeds between the presidential campaigns, nationwide occasion committees and dozens of different allies.
Together with all of these allies, Harris announced earlier this month that she had raised a record-breaking $310 million in July, together with $200 million in simply her first week after stepping in for Biden. A Harris marketing campaign official stated the workforce expects to cross the $500 million mark in fundraising within the coming days. By comparability, Trump beforehand announced that his total political operation had raised a complete of $139 million in July.
The brand new filings from every candidate’s principal marketing campaign committee mirror that broader benefit. Harris reported that she introduced in $204.5 million on to her marketing campaign account in July, together with funds raised through the weeks when Biden was nonetheless within the race.
In contrast, Trump’s marketing campaign reported elevating $47.5 million on to his marketing campaign account over the identical stretch. His marketing campaign was additionally dramatically outspent by Harris’ marketing campaign over the course of the month, $81 million to $24 million.
Amid the intensifying money race, each nationwide occasion committees additionally reported hauling in tens of hundreds of thousands, although the Republican Nationwide Committee grew its money benefit with the Democratic Nationwide Committee spending closely in July.
The RNC raised almost $31 million, spent $33.5 million, and entered August with about $99 million readily available. By comparability, the DNC additionally raised almost $31 million however spent $43 million and ended the month with just below $66 million in money.
The brand new FEC filings present that, in July, megadonors from each events plowed hundreds of thousands into distinguished outdoors teams, which spent large in response to the modified presidential panorama.
FF PAC, the main tremendous PAC backing Harris, raised almost $30 million, together with a $5 million contribution from funding government Marc Stad on July 25, 4 days after Biden withdrew from the race. The tremendous PAC spent greater than $27 million in July, together with greater than $20 million on impartial expenditures, largely for paid media aimed toward supporting Harris’ bid.
MAGA Inc., a number one pro-Trump tremendous PAC, had a fair larger month, elevating almost $55 million in July, and spending greater than $43 million on impartial expenditures aimed toward boosting Trump.
Almost all of MAGA Inc.’s haul final month got here from a single $50 million contribution on July 15 – earlier than Biden dropped out – from reclusive billionaire Tim Mellon, an inheritor to a historic banking fortune who has now given the tremendous PAC a complete of $115 million up to now this election cycle.
This was Mellon’s second $50 million donation to MAGA Inc. – after a contribution made in Might of this 12 months. The 2 donations characterize the most important particular person contributions reported to the FEC up to now this 12 months.
Information from the advert monitoring agency AdImpact illustrates how potent a drive these outdoors teams have been within the early weeks of the upended race.
Within the 4 weeks following Biden’s determination to drop out, outdoors teams – led by FF PAC, MAGA Inc., and the pro-Trump Protect America – spent greater than $180 million mixed on adverts amid a frantic scramble to outline the brand new normal election.
Over that stretch, FF PAC has spent a complete of almost $70 million on adverts, together with placing greater than $20 million behind a spot that options clips of Harris making her marketing campaign pitch at a rally. “I’m working to battle for an America the place the economic system works for working folks, the place you solely need to work one job to pay the payments, and the place laborious work is rewarded, the place reproductive rights aren’t simply protected by the Structure of america, however assured in each state,” Harris says in the ad.
Countering these efforts, MAGA Inc. spent greater than $50 million in adverts over the identical interval. It put almost $15 million behind an ad branding Harris “a harmful San Francisco liberal” and slamming her report as a former district lawyer and California lawyer normal.
Outdoors teams are poised to play a decisive position within the closing months of the 2024 marketing campaign. AdImpact information reveals that Democratic teams, led by FF PAC, have greater than $278 million in future advert reservations for the presidential race via Election Day, whereas Republicans have almost $140 million booked. And people totals are more likely to proceed to develop as November approaches, with spending within the 2024 race projected to break records.
The newest filings additionally increase questions on the way forward for Kennedy’s long-shot White Home bid. The impartial candidate has reportedly sought conferences with each Harris and Trump about potential roles in future administrations, and his working mate, Nicole Shanahan, said on a podcast posted Tuesday that the marketing campaign is contemplating dropping out of the race and endorsing Trump.
Kennedy’s marketing campaign ended July with simply $3.9 million readily available and reported almost $3.5 million in excellent money owed to personal safety government Gavin de Becker for a number of security-related expenditures.
The submitting confirmed that Kennedy’s marketing campaign refunded almost $1 million in July to Shanahan, an lawyer and Silicon Valley government whose private fortune was seen as a probably important asset. Shanahan had given greater than $13 million previous to the refund, essential funds for a marketing campaign missing the help of any major-party infrastructure.
These restricted assets will add additional strain on a marketing campaign already dealing with the problem of securing poll entry in a number of states, together with New York – the place earlier this month, a choose rejected Kennedy’s submission – whereas additionally navigating an electoral terrain considerably reshaped by Harris’ elevation to Democratic nominee.
CNN’s Betsy Klein contributed to this report.