President Biden’s re-election campaign said Sunday that it raised more than $53 million alongside the Democratic Party in February, an influx that is expected to widen Democrats’ cash advantage in the general election campaign against former President Donald J. Trump card.
Mr. Biden, the Democratic Party and their joint accounts now have $155 million His campaign said cash on hand had increased from $130 million at the end of January. The campaign praised the strong support of small donors for the February fundraiser.
So far in the race, Mr. Biden and the Democrats have built a significant fundraising advantage over Mr. Trump and the Republican National Committee, which reported a combined cash balance of about $40 million at the end of January. The Trump campaign has not yet released its fundraising numbers for February, but said it also had its strongest month among small donors – surpassing the $22.3 million raised last August. Mr. Trump and the RNC set up a formal joint fundraising account just last week.
“The fact that we have $155 million in cash — 100 percent of which will be used to build the campaign and focused on the six or seven states that will determine the outcome of this election — is just huge Competitive advantage,” Biden campaign co-chair Jeffrey Katzenberg said in an interview.
Mr. Trump has chatted with donors at Mar-a-Lago, his private club and residence in Palm Beach, Florida, and sought to narrow the financial inequality he faces with Mr. Biden. The former president is also under financial pressure from his legal fees, which are being paid by one of his political action committees.
Both campaigns are due to disclose details of their finances on March 20, with a fuller picture due on April 15.
In February, Mr. Biden’s campaign said it received contributions from 469,000 different donors. More than 178,000 people have committed to monthly donations – a significant amount of renewable cash. The campaign said it received particularly strong responses to fundraising emails focused on Mr. Trump becoming the likely Republican nominee.
The new numbers include joint fundraising by Mr. Biden’s campaign, the Democratic National Committee and the Biden Victory Fund, a joint fundraising committee between Mr. Biden and the DNC. The campaign did not break down how much each of these entities has raised or how much cash they individually have on hand.
The figures do not include the money Mr. Biden raised after his State of the Union address on March 7. His campaign said it raised $10 million in the 24 hours after the speech, which served to boost Mr. Biden’s recovery. Electoral efforts.
Although Mr. Biden is raising more money than Mr. Trump this cycle, the $53 million he raised in February is well below the $86 million Mr. Trump raised in February 2020 while in office President sought re-election.
Mr. Biden has spent big this month as the campaign has intensified, investing $30 million in a six-week advertising campaign in key battleground states and hiring new staff. He and Vice President Kamala Harris have also campaigned in several swing states since the State of the Union. Last week, Ms. Harris made a high-profile visit to an abortion clinic, becoming the highest-ranking U.S. official ever – a visit that underscored how reproductive rights have become a driving issue for Democratic voters.
Mr. Katzenberg said the campaign’s fundraising “accelerated” as Mr. Biden and his surrogates began to hit the road.
“The more people see Joe Biden and his energy, his enthusiasm and his commitment,” Mr. Katzenberg said, “I think that has dispelled a whole lot of gossip and a kind of competitive false narrative about his abilities today and his mental acuity .”
In the coming weeks, the Biden campaign will expand its fundraising even further, holding two events that are sure to raise attention and a lot of money. On March 28, Mr. Biden will appear alongside former Presidents Bill Clinton and Barack Obama at a fundraiser at Radio City Music Hall in New York. (The Biden campaign said a sweepstakes-style contest to enter the event raised $4 million in February.)
Then, on April 3, Hillary Clinton and Lin-Manuel Miranda will host a fundraiser for Mr. Biden on Broadway.
Rebecca Davis O’Brien and Reid J. Epstein contributed reporting.
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2024-03-17 09:04:13
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