The Democratic National Committee, a joint fund-raising committee, and President Biden’s re-election campaign announced on Sunday that they had raised a total of $71.3 million over the course of the three months that ended in September. This sum outpaces that of his Republican rivals but collapses shorter of where President Donald J. Trump was years ago.
The three fundraising platforms reportedly have $90.5 million in cash on hand, according to the campaign. It should have mentioned how the money was distributed among the three methods of fund-raising.
The amount raised is comparable to the $72 million that Biden and the Democratic Party generated in the previous quarter, despite the fact that the April to June period was 25 days shorter due to Biden’s campaign’s late April launch. The summer months of July through September, more than a year before the election, are typically slow for fundraising.
At the end of September, the Democratic re-election campaign had $91 million in cash on hand spread across a number of the party’s connected fundraising organizations.
The amount “exceeded the high-bar goals” the campaign made for the July to September duration, which is generally a slow time to raise money, campaign co-chair Jeffrey Katzenberg said in an interview. According to Katzenberg, this gives Biden an advantage because he can focus his early energies on the general election when Republicans compete in their primary.
The president’s reelection campaign also claimed that their fundraising over the previous three months was far greater than any of the GOP 2024 campaigns, and it is widely anticipated that their cash on hand will surpass that of the whole GOP field as a whole.
The Federal Election Commission must receive third-quarter fundraising reports from candidates for president, the Senate, and the House by the end of Sunday. However, several campaigns have already disclosed the amount of money they have raised recently.
Comparisons with Mr. Obama’s efforts to raise funds for the 2012 campaign are in fact inaccurate due to the fact that candidates and parties are now permitted to organize combined fund-raising committees that are capable of accepting single donations of over $1 million thanks to a 2014 Supreme Court ruling and other legal reforms. Only $30,500 per person was available for collection in 2012 by Mr. Obama and the DNC.
When the committees submit the quarterly filings that the Federal Election Commission requires, more enlightening information regarding the Biden campaign’s financial situation will become available. A campaign spokesman stated that the reports would be made available to the public late Sunday night. Those are required by the end of Sunday.
Biden, 80, who overcame age-related concerns to decide to run for reelection in 2024, is battling surveys that indicate waning Democratic support and worries about the president’s advanced age.
The Wilmington, Delaware-based Biden campaign announced that it would utilize the money it has already raised to employ people, organize in competitive states, and start advertising campaigns.
In order to begin putting up an operation to compete with Republican former President Donald Trump, whom top aides now see as their potential opponent in the Nov. 5, 2024 election, the campaign is anticipated to go on another hiring binge in the upcoming weeks and before the end of the year.
The campaign claimed that in excess of 493,000 donors contributed 843,000 dollars to the cause and that the team recruited more than 240,000 fresh donors who had not supported Biden’s small-donor-driven 2020 campaign.
Since the end of the previous quarter, the total amount of donors who have pledged to give every month to Biden’s campaign has increased by twofold, reaching nearly 112,000 people.
Using some of the same online strategies from the second quarter, the president’s team was able to raise money from modest donors. They were able to raise close to $2.5 million by a contest to meet Obama and Biden as well as nearly $2 million since August by the sale of “Dark Brandon” mugs, which Biden promoted through social media videos.