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What to look for in new report on Trump's cash pile

CLEVELAND— Donald Trump's campaign says it is raising more money now, but it will soon report how it is spending its cash.

June financial reports to the Federal Election Commission are due late Wednesday, a day before Trump is expected to accept the presidential nomination at the Republican National Convention here. The campaigns of Trump and his presumptive Democratic opponent Hillary Clinton have already released fundraising numbers, but the filings for both candidates will provide a better look at where their money goes.

For the Trump camp, the data will offer a glimpse at whether a small operation has expanded for the general election tilt. The filings will also show whether Trump still faces a significant cash disadvantage to Clinton.

Trump's campaign committee said it raised $26 million in June, compared with the more than $40 million the Clinton campaign reported taking in. The Trump campaign ramped up its fundraising efforts largely with email requests to supporters.

The Trump and Clinton campaigns also said they amassed $25 million and $28 million, respectively, in joint fundraising with their parties. However, the campaigns cannot use much of the joint hauls.

For historical perspective, in June 2012, Republican nominee Mitt Romney raised $106 million, outraising President Barack Obama by more than $30 million. Those figures also included joint fundraising with the candidates' parties and affiliated committees.

The new data Wednesday will show if the fundraising boost has led to a bigger cash pile for the Trump campaign. It ended May with only $1.3 million on hand, while Clinton's committee had $42.5 million.

The Trump campaign has so far spent very little relative to most of its Republican and Democratic opponents. It has gotten by largely on loans from Trump himself, and the Clinton campaign had outspent it on ads by more than $40 million as of earlier this month.

A heavy dose of free media also has aided the Trump campaign along the way.

Trump's recent choice of Indiana Gov. Mike Pence as his running mate adds another wrinkle to his fundraising efforts, according to the Center for Responsive Politics. The Securities and Exchange Commission's so-called pay to play rule stops "SEC registered investment advisers" from giving more than $250 to $350 to state or local officials who could choose who manages a pension fund, which could apply to Pence.

That may hold back many hedge funds and private equity firms from giving to the Republican ticket.