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US President Joe Biden’s election campaign outpaced his rival Donald Trump in fundraising and spending last month, according to financial disclosures released on Saturday. This boost in Biden’s campaign funds came despite a challenging debate performance.
Biden’s campaign raised $64 million in June and spent $59 million, primarily on advertisements, leaving him with $95 million in cash.In contrast, Trump’s campaign reported raising $21 million and spending approximately $10 million, ending June with $128 million in cash reserves.
Biden raised more than $5 million in the following three days. In the presidential debate on June 27, Biden stammered and failed to energetically challenge Trump’s attacks, which included numerous false claims. Biden, 81, has since faced increasing calls from Democratic lawmakers to drop out of the race, and his fundraising has reportedly slowed this month.
Biden and Trump are in a close race in national polls. However, Trump has led in several battleground state polls that could be critical in determining the winner of the November 5 presidential election. Since early July, 35 congressional Democrats have publicly urged Biden to end his re-election bid, citing his advanced age and debate performance. Several Biden fundraising events are reportedly on hold as some key donors suggest he bow out.
If Biden exits the race, his campaign funds could potentially be transferred to his running mate, Vice President Kamala Harris, should she become the Democratic nominee. Alternatively, Biden could transfer his campaign war chest to the Democratic Party, which is already a significant fundraiser for his re-election effort. The Democratic Party raised $39 million with its main fundraising group in June.
Trump’s Republican Party also had a strong fundraising month in June, raising $67 million. Trump had outraised Biden in May after his supporters increased donations leading up to his May 30 conviction on business fraud charges, which Trump has denounced as politically motivated without providing evidence.
The largest super PAC supporting Trump, MAGA Inc, reported raising over $22 million during June. This includes $5 million contributions each from hotelier Robert Bigelow and Linda McMahon, a former professional wrestling entrepreneur.
On the Democratic side, LinkedIn co-founder Reid Hoffman contributed $3 million to FF Pac, a super PAC backing Biden’s re-election effort, according to a separate filing with the Federal Election Commission.
Biden’s ability to raise substantial funds even after a challenging debate performance demonstrates the intense financial activity and high stakes as both campaigns gear up for the final stretch. However, the calls for him to withdraw and the fluctuations in his fundraising efforts highlight the uncertainties still looming over the Democratic campaign leading up to the election.
Biden’s campaign raised $64 million in June and spent $59 million, primarily on advertisements, leaving him with $95 million in cash.In contrast, Trump’s campaign reported raising $21 million and spending approximately $10 million, ending June with $128 million in cash reserves.
Biden raised more than $5 million in the following three days. In the presidential debate on June 27, Biden stammered and failed to energetically challenge Trump’s attacks, which included numerous false claims. Biden, 81, has since faced increasing calls from Democratic lawmakers to drop out of the race, and his fundraising has reportedly slowed this month.
Biden and Trump are in a close race in national polls. However, Trump has led in several battleground state polls that could be critical in determining the winner of the November 5 presidential election. Since early July, 35 congressional Democrats have publicly urged Biden to end his re-election bid, citing his advanced age and debate performance. Several Biden fundraising events are reportedly on hold as some key donors suggest he bow out.
If Biden exits the race, his campaign funds could potentially be transferred to his running mate, Vice President Kamala Harris, should she become the Democratic nominee. Alternatively, Biden could transfer his campaign war chest to the Democratic Party, which is already a significant fundraiser for his re-election effort. The Democratic Party raised $39 million with its main fundraising group in June.
Trump’s Republican Party also had a strong fundraising month in June, raising $67 million. Trump had outraised Biden in May after his supporters increased donations leading up to his May 30 conviction on business fraud charges, which Trump has denounced as politically motivated without providing evidence.
The largest super PAC supporting Trump, MAGA Inc, reported raising over $22 million during June. This includes $5 million contributions each from hotelier Robert Bigelow and Linda McMahon, a former professional wrestling entrepreneur.
On the Democratic side, LinkedIn co-founder Reid Hoffman contributed $3 million to FF Pac, a super PAC backing Biden’s re-election effort, according to a separate filing with the Federal Election Commission.
Biden’s ability to raise substantial funds even after a challenging debate performance demonstrates the intense financial activity and high stakes as both campaigns gear up for the final stretch. However, the calls for him to withdraw and the fluctuations in his fundraising efforts highlight the uncertainties still looming over the Democratic campaign leading up to the election.
