Big-money donors to the Republican Party are pulling back their financial support for GOP-aligned super PACs after it became clear to them that former President Donald Trump will continue to dominate the Republican presidential primaries.
According to a report by Politico, big-money Republican donors have given up on the idea of anyone other than Trump winning the GOP nomination. "Trump is way ahead by about 50 points. Who would want to get involved and waste their money?" one donor at a fundraiser in New York stated.
Politico also pointed out that many donors have come to terms with the strong position of Trump in the presidential race even though it was not what they initially hoped for. They also do not see any clear alternative to the former president nor do they have the enthusiasm to continue supporting one of Trump's rivals in the primary for fear of the possible consequences in case of a Trump victory in the general election.
However, some donors still hope for a candidate other than Trump. For instance, cosmetics billionaire Ronald Lauder, international investment banker Bill Strong and WhatsApp co-founder Jan Koum continue to support former South Carolina governor and United Nations ambassador, Nikki Haley. Koum has already donated over $5 million to a super PAC supporting her campaign. However, many other donors who would have provided significant support to her campaign have held back.
Florida Gov. Ron DeSantis, once seen as a strong challenger to Trump, has lost donation opportunities as his popularity in polls has declined. Billionaire CEO Ken Griffin, who gave $5 million to DeSantis' Florida gubernatorial race, has decided to stay out of the primary contest due to frustration with DeSantis and other candidates.
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As a result, the records of the Federal Election Commission in June show that only 66 individual donors had provided $250,000 or more to GOP candidates, compared to the same period in 2016 when 87 donors made similar contributions to candidates.
Meanwhile, the former president continues to raise funds from small-dollar donations. By the end of June, his joint fundraising committee had collected $23.7 million from donors contributing less than $200, more than all the other Republican candidates combined. (Related: GOP presidential primary debate: No one came out to challenge Trump’s dominance.)
Trump is already ahead of Biden in a general election matchup
Trump is not only winning in the Republican primary, but recent polls show he is also ahead in a general election matchup against President Joe Biden.
In one poll with over 1,000 adult respondents, Trump had a 9-point advantage against Biden with 51 percent support compared to Biden's 42 percent.
The poll, which focused on the current border and economic situation, reveals that 44 percent of Americans believe they are worse off financially during Biden's presidency, which is the highest number in ABC polls since 1986.
Even ABC's "This Week" political director Rick Klein couldn't help but comment while reporting the figures on the program last week. "These numbers are simply staggering for the sitting President."
Moreover, the poll found that only 37 percent of respondents approve of Biden as president, while 56 percent disapprove. When it comes to the economy, only 30 percent approve of the president's performance.
Biden's approval rating in terms of his immigration policies is at a low 23 percent and his disapproval rating is at 45 percent, which isn't surprising at all given those democratic voters in traditionally supportive areas like New York are one of the most affected by the policies.
Martha Raddatz, the co-moderator of Klein, also emphasized in their program that policy concerns are not the only issues in Biden's campaign. "It seems to be the man himself," she said, citing the poll's revelation that "74 percent of Americans say that Biden is too old to effectively serve in a second term." This sentiment extended across party lines, with Democrats also expressing reservations about Biden's age.
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