There are no restrictions on when a candidate can start campaigning or how much money they can spend. For some candidates, spending can reach as much as $1 billion.
Traveling across the country for months or even years, funding ads and paying campaign staff all contribute to the high price tag.
Read more | US Elections 101: 20 Things You Absolutely Need to Know About This Electoral Battle
US presidential election: where do the donations come from?
Contributions or donations are the primary means of campaign financingPolitical parties, charities and political action committees often pool resources to ensure campaigns run smoothly.
Since 1976, candidates have had the option of using a public financing system to finance their campaigns. Until the 2000 presidential elections, all presidential candidates participated in this system by accepting public funds in exchange for a spending limit.
However, this system eventually lost its appeal when leading candidates discovered that they could often raise more funds from private sources.
Federal law, however, prohibits corporations and unions from making direct donations to candidates or national party committees. It also places limits on the amount of money that individuals and political action organizations can contribute to campaigns and parties.
Learn more | 2024 US Elections: How Many Times Can You Run for the White House?
US Elections: A Look at Funding for 2024 Polls
In just over a month of officially campaigning for the White House Oval Office, Harris reportedly raised $540 million, with a particular boost in funds during the Democratic National Convention. Harris campaign manager Jen O’Malley Dillon said that amount was in addition to the $84 million her campaign raised specifically during the week of the Democratic National Convention.
On the other hand, media reports say that business mogul Trump’s campaign raised about $138.7 million in July, making a total of $327 million in cash on hand as of early August. According to Federal Election Commission records, the Trump campaign raised $268.5 million between January 2023 and July 31, 2024, Forbes reports.
