JD Vance campaign is down.
These are the main takeaways from the FEC filings This week, which shows that between mid-April and the end of June, Vance’s team raised $1 million, spent more than that, and a quarter of a million dollars in the hole with only four months until Election Day.
It’s impressive for a candidate with a nationalist name, who won the Republican primary for a crucial Senate seat in the middle of a fundraising period.
But Vance’s campaign has never been a big draw for money.
Over the first three months of the year, the campaign sprang up live $38000 Altogether, he came close to hitting the lowest level in his cash reserves that in late March, Vance himself floated a $600,000 bridging loan.
Fortunes turned with Trump’s endorsement in April, and Vance made unexpected gains in the May 3 primaries, but he was apparently unable to translate the win into financial support. Eight weeks later, the campaign was in the red, reporting $628,000 in bank and $883,000 in debt — a shortfall of more than $250,000.
Vance’s campaign declined to comment.
He raised his Democratic opponent, Representative Tim Ryan $9.1 million during the same period. Ryan campaign Tell In that time, NBC News said it had added nearly 90,000 new donors and that most donations were in amounts of $100 or less.
It’s not the whole picture for Vance, whose fundraising operation includes a PAC leadership committee and joint fundraising committees. But even this is not much better.
Most of the campaign’s revenue in the last quarter came from transfers from the joint “Ohio for Jordanian Dinar” fundraising committee, which split about $1 million between the campaign and Vance’s leadership of PAC. The Joint Commission is still sitting around $300,000 But she owes about $200,000.
Another joint committee – “Vance Victory” – pulled everywhere $725,000. But the campaign must share that with the PAC leadership and the Ohio Republican Party.
The PAC of Vance’s leadership, which is called “Working for Ohio,” is the best. PAC . has been added 108000 dollars to its inventory last quarter, totaling $461,000 on hand. And unlike Ohio’s Campaign for a JD, this committee has no debts.
But that won’t help Vance’s campaign. Candidates can use PAC’s money for a lot of things – some critics call the accounts “personal mud funds” – but they can’t spend that money on their own campaigns. However, they can turn it over to their allies, as Vance has done, by passing thousands of dollars to GOP candidates including his friend Blake Masters in Arizona and former Trump aide Max “Music Man” Miller, who is running for Congress in Ohio.
While the picture may seem a bit bleak, Vance can count on outside support from high-income donors. In fact, most of his support comes from outside his campaign, in the form of a super PAC called Protecting Ohio Values.
The group, which campaign watchdog groups have accused of illegally coordinating with Vance’s campaign, has few donors. But these donors put millions of dollars behind the Ohio author – a total $17.4 millionwith about $7 million of that amount after April 14.
But as the image gets larger, Vance’s support circle actually looks smaller.
A handful of big, wealthy PAC donors infuriated the Vance campaign nearly six to one. And the vast majority of PAC’s super money has come from just one person, senior Republican frontrunner and Vance business partner Peter Thiel.
Since March 2021, Thiel has provided $15 million from PAC. That’s nearly five times what Vance’s entire campaign collected.