The three committees include a political action committee (PAC), a super PAC and a joint fundraising committee. These three have collectively amassed and spent millions of dollars within their first three months of operation.
The PAC, operating under $5,000 limits per year, has already accumulated $6.2 million, while the joint fundraising committee, functioning as a financial intermediary that collects and distributes funds to other groups, has raised over $10 million from different sources.
The super PAC, an unlimited fund-raising organization prohibited from endorsing a candidate, reportedly had $6.3 million on hand at the end of June, with contributions from entities such as the California Conference of Carpenters-Builders and Working for Working Americans, a Washington-based super PAC advocating for building trade unions. Philanthropist Aileen Getty further solidified the financial backing with a $25,000 contribution.
These funds are directed toward fundraising events, promotional emails and public appearances to advocate the policy agenda of Newsom for gun control, abortion rights and LGBTQ+ rights. Newsom engages party leaders and organizers in conservative strongholds like Arkansas, Mississippi and Florida to bolster local Democratic candidates.
Brendan Glavin, a senior data analyst at Open Secrets, emphasized that these steps are often indicative of a candidate testing the waters for a potential presidential campaign. "For someone who has an interest in launching a presidential campaign, these are the first steps you'd take," Glavin noted. "I wouldn't say it's set in stone, but certainly you wouldn't do all of these things if you weren't thinking about it."
Nathan Click, a campaign advisor for Newsom, vehemently rejected the notion of presidential ambitions and emphasized the focus of Newsom on supporting Democratic candidates in traditionally conservative states. "This is all about going deep into the reddest states and helping Democrats where they're on defense," Click explained.
Super PACs raising millions to fund campaigns of presidential candidates
Other presidential candidates have also been using super PACs to fund their campaigns ahead of the 2024 presidential elections.
For instance, Never Back Down, a prominent super PAC supporting Florida Gov. Ron DeSantis, has already accumulated $97 million in funds by the end of June. One man alone was able to make a contribution of $20 million to the super PAC.
Unite The Country, which backed President Joe Biden during the 2020 election cycle, continues to be a driving force behind Biden's 2024 campaign even after raising and spending $49 million in 2020.
Biden also received $2 million dollar support from a Marin County fundraising event, with additional support coming from email campaigns and in-person fundraisers in traditionally conservative states such as Mississippi, Arkansas, Tennessee, Idaho and Utah.
Make American Great Again, an organization supporting former President Donald Trump, reported $30.8 million on hand at the end of June. This substantial fund underscores the constant influence of Trump's political movement.
Meanwhile, American Values 2024, which backed Democratic candidate Robert F. Kennedy Jr. reportedly raised $10.25 million for his electoral campaign. Tony Lyons, co-chair of the super PAC, indicated that the contributions came from a mix of Republicans and Democrats. (Related: Super PAC raises more than $10M to support RFK Jr.’s presidential campaign.)
Common Sense PAC, founded by Canadian actress Sofia Karstens earlier this year, has also thrown its weight behind Kennedy's bid to challenge Biden for the Democratic nomination. The association organized a high-profile fundraising event in San Francisco that featured Paypal founding CEO David Sacks and Social Capital CEO Chamath Palihapitiya. And in just a 24-hour period on June 30, the organization raised $1 million dollars.
Watch this video to know more about the possibilities of the 2024 elections.
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