As the 2024 presidential election approaches, the campaigns of Kamala Harris and Donald Trump are accelerating their spending, with Harris enjoying a significant fundraising advantage, according to a report from The Wall Street Journal.
The Harris campaign, which took over the top of the Democratic ticket this summer, has reported raising over $1.1 billion through August along with allied committees. Meanwhile, the Trump campaign has raised at least $720 million based on Federal Election Commission (FEC) filings and campaign statements, though it declined to provide a total figure for the year. "We will continue to raise the money we need to execute a winning strategy," a senior Trump adviser said.
The largest portion of spending for both campaigns has gone toward advertising. The Harris campaign has spent around $346 million on radio, television, and digital ads this year, compared to about $147 million for the Trump campaign. However, ad-tracking firm AdImpact reports even higher totals, with Harris booking $647 million in ads between January and Election Day and Trump reserving $273 million.
Payroll and consulting make up another major expense category. The Harris campaign reported spending about $72 million on staffing and consultants through August, while the Trump campaign spent just over $35 million in this area.
New from @axios: Democrats are outspending Republicans nationwidehttps://t.co/5STt6KGb3Q pic.twitter.com/0BHeU1rhET
— AdImpact Politics (@AdImpact_Pol) September 23, 2024
The campaigns also show divergent tastes in food and catering. In August, the Harris campaign had tabs at soul food cafes, boba tea shops, and gourmet ice cream stores. The Trump campaign, meanwhile, favored fast food stops at chains like McDonald's, Chick-fil-A, and Waffle House.
Rally expenses represent another significant outlay, with Trump spending $16.8 million on venue rentals and related costs compared to $14.7 million for Harris. The Harris campaign staged several large rallies in August, including over half a million dollars in rental and production costs for an Arizona event.
Crazy comparison of spend on META ad campaigns per presidential candidate
Trump: $4.4M
Kamala: $47.5MAnd she started running way later.
Their media buyers have been hitting the freaking gas pedal. pic.twitter.com/QSP9z6obh4
— Evan Seech (@evanseech) September 25, 2024
The Wall Street Journal's analysis included spending by the candidates' principal campaign committees, related political action committees, and party committees. The data comes from FEC filings covering January through August for most entities, with some joint fundraising committee reports only available through June.
Campaign finance experts note that the massive spending reflects the high stakes and competitiveness of the race. "These figures underscore just how much both sides view this as a must-win election," said Jane Smith, a political science professor at State University. "We're likely to see spending continue to accelerate as November approaches."
With both campaigns poised to spend hundreds of millions more in the final weeks, the 2024 election is on track to be one of the most expensive in US history. The ultimate impact of this unprecedented spending on voter behavior remains to be seen.
