Sinking? Pence’s Campaign Reports $620,000 Debt Amid Competitive Fundraising Landscape

by | Oct 16, 2023 | News

Former Vice President Mike Pence’s current presidential campaign is set to report a debt of $620,000 for the third quarter fundraising period, according to a recent report from the Washington Examiner. Despite this debt, the campaign has managed to hold $1.2 million in cash on hand, with Pence personally contributing $150,000 to the campaign coffers. During the third quarter, the campaign has raised a total of $3.3 million.

This financial scenario could pose challenges for Pence’s presidential aspirations, drawing parallels to past candidates who faced financial hurdles. For instance, in 2015, then-Wisconsin Governor Scott Walker’s campaign reported nearly $1 million on-hand with a debt of $161,000 before he exited the race.

Furthermore, at least $200,000 of Pence’s cash is earmarked for the general election, limiting its usability during the primary season due to restrictions from donors who maxed out their contributions, as per an NBC News analysis referenced by the Washington Examiner.

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The fundraising landscape appears to be robust for other Republican contenders. Former U.N. Ambassador Nikki Haley reported over $11 million in third-quarter fundraising, with $9.1 million available for the primary. Florida Governor Ron DeSantis announced a remarkable $15 million third-quarter fundraising haul, starting October with $13.5 million in cash, though only $5 million is available for primary spending.

On the other hand, former President Donald Trump’s campaign reported nearly $36 million available for the 2024 primaries after a successful $45.5 million fundraising effort in the third quarter. Meanwhile, President Joe Biden’s campaign outpaced his Republican counterparts with a whopping $71.3 million raised in the third quarter, heading into the fourth quarter with nearly $91 million in cash on hand.

The financial disclosures, initially reported by the campaigns, await independent verification pending the filing of official reports with the Federal Election Commission.

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