Tim Scott war chest gives possible advantage as he considers presidential run

Cami Mondeaux

February 21, 09:57 AM February 21, 09:57 AM

As Sen. Tim Scott (R-SC) eyes a White House bid in 2024, the South Carolina senator benefits from a massive campaign war chest and fundraising strength that could give him a boost over other presidential contenders.

Although Scott has not declared whether he intends to run for president, speculation of a possible White House bid began to rise in early February after the senator hired former Sen. Cory Gardner (R-CO) and longtime Republican operative Rob Collins to lead his super PAC.

2024 GOP CONTENDERS RAMP UP FUNDRAISING EFFORTS AS PRIMARY FIELD BEGINS TO TAKE SHAPE

Scott launched his Opportunity Matters Fund in September in an effort to boost several GOP candidates during the midterm elections. Since then, he has spent hundreds of thousands of dollars on purchasing ads as he mulls a presidential bid.

Meanwhile, Scott has positioned himself as a top fundraiser during the 2022 midterm cycle, raising more than $43 million for his reelection campaign, according to records from the Federal Election Commission. That fundraising haul leaves Scott with nearly $22 million on hand as of Dec. 31. The senator can transfer that money to a presidential committee should he choose to run.

That puts Scott above former President Donald Trump, who reported having $3 million on hand at the end of last year, according to campaign records.

Trump has struggled with a slow fundraising start, but the former president is looking to boost his standing by hosting a dinner for some of his top donors at his Mar-a-Lago home on Thursday, marking his first fundraiser of the 2024 cycle.

Scott is also planning to make the rounds this week. He is expected to attend a donor conference in Austin, Texas, on Friday hosted by former George W. Bush adviser Karl Rove. That conference will give top contenders, such as Scott, former Vice President Mike Pence, and former U.S. Ambassador to the United Nations Nikki Haley, a chance to secure top donors as they vie for the White House.