President Trump is shattering presidential election fundraising records, having started his reelection fundraising before even being sworn into office. And thanks to the Supreme Court's 2014 decision in McCutcheon v. FEC striking down the federal law $123,00 limit on aggregate contributions by a single donor to all federal political committees in an election cycle, one donor, Texas-based banker Andrew Beal contributed $339,000 in the second quarter of this year alone to President Trump's joint fundraising committee formed with the Republican Party.
President Trump has raised more than $88 million for his re-election campaign over the last year and a half, giving him a dramatic head start on prospective Democratic challengers in the 2020 race.
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The totals reflect a brisk and continued fund-raising effort by Mr. Trump’s campaign operation that, in a departure from usual presidential practice, started even before he took office. Most new presidents shift their political operations to their national party committee until launching their re-election campaign after the first midterm election of their tenure.