Nikki Haley sets low expectations in Iowa, but spending suggests backers hope she beats Ron DeSantis

Presidential candidate Nikki Haley has recently downplayed the importance of winning Iowa for her 2024 ambitions, but her super PAC’s spending indicates her backers hope she can cinch a win against rival Ron DeSantis.

Haley has been battling for second in the first-in-the-nation state against the Florida governor, while GOP frontrunner Donald Trump remains far in the lead. A Monday Des Moines register poll showed her at 16%, lagging behind DeSantis’ 19% and Trump’s 51%.

SFA Fund, Inc. — the super PAC backing the former UN ambassador — has spent over $4 million in Iowa targeting DeSantis since an Oct. 30 Des Moines Register poll showed her tied with DeSantis, federal receipts reviewed by The Post show.

The super PAC has spent no funding on attacking GOP frontrunner Trump.

The spending gives a sign that the Haley-backing super PAC sees potential in beating DeSantis, who has primarily focused his efforts on Iowa.

As Haley has risen in the polls, the two White House hopefuls have gone after each other on the debate stage and on the air waves, sparring over China, Gaza and their mutual gubernatorial records.

Both Haley and DeSantis have zeroed in on early voting states Iowa and New Hampshire, but unlike DeSantis, Haley has recently lowered expectations of how she’s going to fare in Iowa.

“The way I look at it, we just need to have a good showing in Iowa,” Haley told a town hall in Sioux City, Iowa, on Friday. “I don’t think that means we have to win necessarily, but I think that means we have to have a good showing.”

Haley’s campaign has previously argued she could have a solid showing in multiple early states, including Iowa, New Hampshire and South Carolina.

Her campaign has also said she is “second” in Iowa — despite polls showing her rivaling DeSantis for the coveted spot — and has pointed to the importance of the endorsement of the Koch network-backed Americans for Prosperity Action, which will boost her ground game in Iowa through their “unmatched grassroots army and resources.”

The former UN ambassador is expected to be endorsed by New Hampshire Gov. Chris Sununu Tuesday night, giving her a boost in the first primary state over DeSantis and former New Jersey Gov. Chris Christie.

DeSantis and Haley have not fought over New Hampshire to the magnitude of Iowa, as Haley leads the Florida governor by over 10%.

SFA Fund, Inc. has only spent $170,000 on anti-DeSantis expenditures in the Granite State, federal receipts show.

SFA Fund, Inc. did not respond to inquires from The Post about their spending.