Buoyed by an energetic State of the Union address to Congress and some extra presidential star power, the Biden campaign and its affiliate fundraising groups raised $90 million in March, nearly matching them. raised in the first two month The year 2024 has joined.
The Democrats’ strong finish to the first quarter of fundraising gives the Biden operation $192 million in the bank for the next seven months of the race, a number that continues to grow even as campaign spending increases. It comes as former President Donald Trump’s campaign begins to ramp up its fundraising efforts.
Most of the $26 million raised for March 28 “Three Presidents” fundraiserThe exhibition arrived during March, featuring musical performances by Presidents Joe Biden, Barack Obama and Bill Clinton, as well as Lizzo, Queen Latifah and others. But the campaign also said it set domestic records with small-dollar fundraising during and after Biden’s State of the Union address on March 7.
The Biden campaign said it has doubled the size of its email list since the start of the year and helped generate 1.9 million contributions from 1.1 million individual donors in the first three months of the year, most of them less than $200.
Documents showing the cash position of the Biden campaign in March are not released until April 20.
The campaign also says it currently has 212,000 “continuing donors” who commit to giving a certain amount regularly until the end of the campaign.
The Trump campaign has yet to report fundraising in March. But after dispatching Trump’s GOP primary rivals last month, he is aiming to quickly chip away at Biden’s cash advantage, including this week’s bid to top Biden’s three-presidential extravaganza in one fell swoop.
Billionaire hedge fund investor John Paulson will hold an event for Trump in Palm Beach, Fla., on Saturday, which is expected to raise at least $50 million between the Trump campaign, his super PAC, the Republican National Committee and state Republican party committees. . Elite packers to qualify for Trump Victory Trust status will have to raise at least $2.5 million each for the former president..
Both candidates are raising money that can be used not only for their campaigns, but also for national party committees and state parties. Because Super PACs can accept unlimited contributions, the numbers from one fundraiser to another are not directly comparable.
The Biden campaign says most of its fundraising now comes from “grassroots” donors, including a conflict with Trump’s weekend event.
“In many ways, this is an election of sorts. It’s a busy group of millions of people who roll up their sleeves and donate $5, $10 at a time to Donald Trump and his tax-cut cronies,” deputy campaign manager Rob Flaherty said in an interview. . “Who cares what he and a few billionaires might fall off their couch cushions. We have a solid base that carries us.”
Nnamdi Egwuonwu, Jonathan Allen and Catherine Doyle contributed.