What to Know in Washington: GOP Primary Drives Fundraising Test

Republican presidential candidates face an early test next month of whether they can raise enough money to sustain their campaigns through party primaries and break away from a growing GOP field.

Frontrunner Donald Trump is sticking with his battle-tested strategy of relying on a wide network of small-dollar donors to fund his bid. His challengers are hurriedly crisscrossing the country this month to woo wealthy donors to bankroll their campaigns ahead of a July 15 report detailing how much money they raised during the second quarter.

That disclosure — the first look at how the presidential hopefuls fared during the early days on the stump — will signal to voters whether their bids have potential and could convince other donors to help contenders make it onto the first debate stage in August. These potentially divergent strategies could also lead to a Republican race pitting cash from the 1% versus everyone else.

Photographer: Al Drago/Bloomberg

Florida Gov. Ron DeSantis — who trails Trump by roughly 30 percentage points in FiveThirtyEight’s average of primary presidential polls and whose campaign touted that it raised more than $8 million within the first 24 hours of launch — is pressing on. He attended six fundraisers in early June in Texas, including a Houston event co-hosted by conservative Texas mega-donor Richard Weekley. On June 19, he will raise funds over a breakfast in Sacramento, California.

For candidates currently polling in the single digits — Mike Pence, Nikki Haley, Vivek Ramaswamy, Rep. Tim Scott (S.C.), Chris Christie, and Asa Hutchinson — the July 15 deadline is crucial to show that they have the backing from big spenders influential in Republican politics. But they also need to have at least 40,000 unique donors across the country to make the first GOP debate. The Haley and Ramaswamy campaigns say they’ve already met the donor requirement.

Even President Joe Biden, who isn’t facing serious competition in his primary, is going on a fundraising blitz ahead of the same disclosure deadline. He’s attending events in Chicago hosted by Illinois Gov. JB Pritzker, as well as stops in the San Francisco area — home to deep-pocketed Democratic donors such as climate activist Tom Steyer and entrepreneur Mark Pincus. Read the full story from Laura Davison, Nancy Cook, and Bill Allison.

Trump Indicted

Trump Indictment Outlines ‘Powerful Case’

Special Counsel Jack Smith has assembled a strong criminal case that outlines Trump’s mishandling of classified documents and obstruction of the investigation to recover them, former federal prosecutors said.

• Top-secret documents were left on a ballroom stage for three months. Some of the nation’s most prized secrets spilled out of a box and were scattered across a floor. Others were stacked in a bathroom shower. An attack plan was waved in front of a writer. Read more.

Trump’s Own Words Play a Star Role in the Case Against Him

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Trump’s Die-Hard Base Faces New Loyalty Test Over Indictment

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• Trump is broadly holding on to his base as he heads to court to face federal charges that are raising concern about the risk of violence incited by some of his most fervent supporters. Read more.

Trump Indictment Highlights the Perils of Being His Lawyer

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CONGRESS’ SCHEDULE

• The House is back at 2 p.m. to kick off a week with votes on bills targeting federal regulations broadly and gas stoves specifically.
• The Senate returns at 3 p.m. for votes on Biden’s nominees.

BIDEN’S AGENDA

• At 11:30 a.m., Biden and Second Gentleman Doug Emhoff celebrate College Athlete Day at the White House.
• The president holds a 3:15 p.m. meeting with NATO Secretary General Jen Stoltenberg to discuss the upcoming NATO Summit in Vilnius, Lithuania.
• At 6 p.m., Biden delivers remarks at the Chiefs of Mission Reception at the White House.

US-China Tension

US Acknowledges China Has Spy Base in Cuba, Expanded It in 2019

The White House acknowledged the existence of Chinese spy facilities in Cuba, saying their presence dates back to the Trump administration and that Beijing continues to push to expand them. China has denied the US’ claims.

Australia’s Receipt of US Attack Submarines Backed in House Bill

The US would be allowed to transfer to Australia no more than two Virginia-class submarines from the Navy’s inventory under legislation introduced by a trio of House Democrats.

More News From the Hill

Homeland Panel’s Bipartisan Style Buckles Under GOP Border Focus

Top lawmakers on the House Homeland Security Committee insist they can regain their bipartisan footing even as political clashes dominate many of their proceedings this year.

West Virginians Seek to Stymie Biden Power Plant Emissions Rule

The EPA would be blocked from forcing fossil fuel power plants to reduce their carbon emissions significantly by 2040 under new Republican legislation.

What Else We’re Reading

Soros Hands Control of Open Society Foundations to His Son

Billionaire philanthropist and investor George Soros, 92, is handing control of his Open Society Foundations to his son Alex, who was named chair in December.

Saudi Arabia Golf Deal Puts Biden and PGA in Same Awkward Corner

Biden and the PGA Tour have learned the same hard lesson in recent months: Saudi Arabia is too rich and consequential to shun.

To contact the reporters on this story: Brandon Lee in Washington at blee@bgov.com; Giuseppe Macri in Washington at gmacri@bgov.com

To contact the editor responsible for this story: Kayla Sharpe at ksharpe@bloombergindustry.com