Oct 16, 2023 - Politics & Policy

Mike Pence's presidential campaign faces a cash squeeze

Republican presidential candidate former U.S. Vice President Mike Pence speaks during the 2023 First in the Nation Leadership Summit on October 14, 2023 in Nashua, New Hampshire.

Former Vice President Mike Pence speaks during the 2023 First in the Nation Leadership Summit on Oct. 14 in Nashua, New Hampshire. Photo: Michael M. Santiago/Getty Images

Former Vice President Mike Pence has $620,000 in debt and he entered October with just $1.2 million cash on hand, according to his public filing with the Federal Election Commission.

Why it matters: Pence's fundraising was at the bottom of the list of Republican candidates who qualified for the second GOP primary debate last month — and paled compared to the tally from former President Trump.

Driving the news: Pence received $3.4 million from July to September.

  • His onetime boss former President Trump raked in $24.5 million during the same quarter.
  • Pence donated $150,000 of his own funds to his campaign this quarter in a sign of his money woes.
  • A spokesperson for Pence's campaign did not immediately respond to Axios' request for comment on his third quarter FEC filing.

Flashback: Pence last week, before the deadline to file his FEC report, said that his campaign would "probably have to be a little bit more selective in where we invest resources."

  • "It may be obvious in the days ahead that other campaigns have more money than ours," Pence said. "But it's not about money, it's about votes."

Zoom in: Pence, who has made appealing to evangelical conservatives in Iowa central to his campaign, has struggled to gain traction in the crowded GOP primary.

  • He has averaged about 3.7% in national GOP primary polls, according to FiveThirtyEight's tracker, which was last updated on Oct. 13.

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