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Biden and his Democratic allies announce $97 million fundraiser

Written by The Anand Market

Updated on:

President Biden’s re-election campaign said Monday that with the help of two allied committees, it raised $97 million during the latest fundraising period. Together, they entered 2024 with more than $117 million in cash, according to the campaign.

The $97 million raised by the Biden operation is significant, but its cash flow is only $27 million more than at the end of September, due to the campaign’s significant spending on new staff and more than $25 million in advertising purchased overall. -election battlegrounds, where poll numbers for Mr. Biden have been weak.

The Biden campaign’s release of its fundraising data comes more than two weeks before it was required to do so and is a clear attempt to distract from Monday’s Iowa caucuses, the first race in the inauguration of Republican presidential candidates aiming to oust Mr. Biden from the White House.

“The Team Biden-Harris coalition knows what’s at stake in this election and is ready to win next November,” said Julie Chávez Rodríguez, Mr. Biden’s campaign manager. “These numbers prove that the American people know what’s at stake and are acting quickly to help defeat the extreme MAGA Republican agenda again.” »

Former President Donald J. Trump, who has a wide lead in polls in the Republican race and is widely expected to win in Iowa, has not yet released his end-of-year fundraising numbers. year. The Trump campaign had $37.5 million in cash at the end of September, the last time deposits were reported, and Mr. Biden’s campaign had $32.2 million.

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As of January 2020, Mr. Trump’s re-election campaign committee alone had $102.8 million — a cash windfall that followed his first impeachment.

Among the other major Republican candidates, only former Gov. Nikki Haley of South Carolina revealed her year-end fundraising total. This month, she announced that she had raised $24 million in the fourth quarter for his campaign and his two associated committees. The campaign said it has $14.5 million in cash on hand to start the new year.

The Biden campaign has provided few useful details about the money raised. The campaign reported 520,000 individual donors in the three months ended Dec. 31, but did not disclose how much of its money came from donors who gave less than $200, the typical metric for popular enthusiasm.

Small donors are essential to the health of a campaign because they can be tapped for repeated contributions and they are a sign of popular commitment to a candidate.

It’s not yet clear how much of the money raised from the Biden operation is in the campaign account that can accept contributions of $6,600 per person or in other accounts where donors can give nearly of a million dollars. How the money will be distributed won’t be known until Jan. 31, when all federal campaign committees will be required to file fundraising reports with the Federal Election Commission.