U.S. President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington. (Photographer: Andrew Harrer/Bloomberg)

Trump Raises $17.7 Million for Campaign, Party in Second Quarter

(Bloomberg) -- President Donald Trump raised $17.7 million during the second quarter through three committees that are backing his 2020 re-election bid, his campaign announced.

Trump’s main committee collected $8.3 million of the total, and it had $33 million cash on hand at the end of June. The haul was fueled by small-dollar donors -- those giving $200 or less -- who contributed 98.5 percent of the amount, the campaign said on Sunday.

Trump Victory, which raises money from big contributors and hosts events with a few hundred donors who contribute $50,000 and more, reported to the Federal Election Commission it raised $4.6 million. Its top donor during the second quarter was Andrew Beal, a Texas banker and real estate investor who was a member of Trump’s campaign economic advisory team. Beal gave $339,000 in late April, records show.

Trump Make America Great Again Committee, which focuses on small donors, runs the official store for campaign gear such as hats and other merchandise branded with Trump’s signature slogan. It raised $10.2 million during the quarter, according to its FEC report.

‘Resoundingly Approve’

Both committees split their receipts between Trump’s campaign and the Republican National Committee, which has taken in $199.1 million this election cycle and had $47.4 million in the bank at the end of May. The Democratic National Committee, by contrast, raised $101.2 million and had $8.7 million on hand during the same period. The RNC and the DNC are required to report their June fundraising totals to the FEC no later than July 20.

“We are thrilled with the continued support of so many Americans who resoundingly approve of Donald Trump’s performance as President,” Lara Trump, wife of Eric Trump and a senior adviser to her father-in-law’s campaign, said in a statement. She cited the administration’s trade, tax and immigration policies for the grassroots donor support.

Trump’s campaign had raised $53.5 million from January 2017 through the end of March, and it touted a “record fundraising streak” for a president during the first six quarters of his term.

It’s unusual for a sitting president to raise money for re-election as aggressively during his first two years in office, as Trump has. Former President Barack Obama had been in office more than two years before he headlined his first re-election fundraiser. Former President George W. Bush raised $268,423 during his first two years in office, FEC records show.

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