Trump, RNC cash in on impeachment, raising $117M more in funds
{{#rendered}} {{/rendered}}The Democrats’ impeachment saga not only ended Wednesday with a double acquittal but a $100 million windfall for President Trump’s reelection campaign efforts, the Republican National Committee (RNC) revealed Saturday.
The RNC, Trump's campaign and their joint fundraising committee have raked in $117 million in online donations since House Speaker Nancy Pelosi announced the impeachment inquiry on Sept. 24, 2019, thanks to an influx of new small-dollar donors who wanted to stand by the president.
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{{#rendered}} {{/rendered}}"We've seen through our record-breaking fundraising that the Democrat's bogus impeachment galvanized President Trump's supporters across the country to contribute financially to his re-election efforts,” RNC spokesman Steve Guest said.
During the impeachment probe, Trump and the RNC went on offense by spending $11.3 million in new TV ads and digital campaigns with the theme: “Stop the madness.” They gained 1 million new small-dollar donors through their efforts.
The fundraising over the last four months during impeachment proceedings was 137 percent more from the same period a year prior, the RNC said.
{{#rendered}} {{/rendered}}“With this financial support, it's allowed us to expand our field program across the country to continue to engage with voters and with the ultimate goal of re-electing President Trump and Republicans up and down the ballot,” Guest said.
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Trump formally launched his reelection bid in June 2019 at a rally in Florida -- the nation’s largest swing state. He's since held a steady pace of rallies to energize his base and has raked in millions from his supporters.
{{#rendered}} {{/rendered}}He raised more than all of his competitors, bringing in $211.3 million through the end of 2019, federal election records show.
Democrat Tom Steyer brought in $209 million, but $202 million of that haul came from his own pocket. The third-highest fundraiser to date is former New York City Mayor Michael Bloomberg who has completely self-funded his campaign with a $200 million infusion of cash.
Trump, a fellow wealthy businessman, hasn’t donated any personal funds to his reelection campaign account, records show.
{{#rendered}} {{/rendered}}Trump and the RNC have the big fundraising advantage this cycle, amassing a giant stockpile of money and not having to burn through cash to win a heated primary race.
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The Democratic National Committee (DNC) raised $92.3 million so far this cycle, but spent most it and had $10.1 million cash in the bank at the end of 2019, according to Federal Election Commission (FEC) filings.
{{#rendered}} {{/rendered}}The RNC raised a total of $241 million this cycle, spent $192.6 million of it and ended 2019 with $72 million in cash on hand, FEC records show.