President Biden’s reelection campaign last month saw him significantly outpace Republican presidential nominee Donald Trump in terms of campaign finances, even as the incumbent’s position in the polls deteriorated.
The Biden campaign spent a lot of money. $59.4 million During June, the Trump campaign $9.9 million Spending for the month was down compared with the same period last year, according to a recent filing with the Federal Election Commission.
During the same period, Trump started June with a 2.2-point lead and ended it with a 3.2-point lead. According to a tally by RealClearPolitics: Competing for 5th place nationally.
Similar trends were seen in several battleground states in the same month, according to RCP’s tally.
The only saving grace for the Biden-Harris campaign is that it again outraised the Trump campaign in June, as it has done for most of the 2024 reelection cycle, but notably not in May.
The Biden campaign raised $63.8 million in June, beating the Trump campaign’s $21.5 million.
But the company ended June with just under $96 million in cash on hand, well below the $128 million held by the Trump campaign.
The 81-year-old president’s political campaign has long enjoyed a financial advantage over Trump, but that advantage has eroded considerably since Trump’s conviction in a hush-money case in May, sparking a fundraising surge that has spurred his campaign’s efforts.
Both camps are joining forces with political party organisations in their respective countries.
Trump’s fundraising efforts, combined with the Republican National Committee (RNC), had about $281 million in cash by the end of June, while Biden and the Democratic National Committee (DNC) had $237 million, according to filings with the Federal Election Commission.
In addition, the Democratic National Committee $26 million in Junecompared to RNC’s 19.4 million.
The Republican National Committee now has more money than the Democratic National Committee for the first time this general election season, with $101.6 million compared to the DNC’s $78.3 million.
A few months ago, the Republican National Committee’s finances were on edge and near their lowest in decades when inflation was taken into account.
President Trump pushed for new leadership, which was eventually sworn in in March.
Some of Biden’s supporters have bragged about his post-debate fundraising numbers, despite his dismal performance in last month’s debate, and seen them as evidence of his political strength.
Still, there are signs that some donors are wary of giving money to the Biden-Harris campaign amid uncertainty about whether Biden will remain in the top spot.
Election Finance Law Causes serious complications Biden could transfer the war chest to another standard-bearer if he so chooses.
If he were to try, Republicans would almost certainly file legal charges against him, which is why some donors appear to be hesitant.
Amid growing concerns, Vice President Kamala Harris held a conference call with about 300 donors on Friday to try to assure Democrats that they would win.
“First, I want to tell you something, something I believe with all my heart, something I implore all of you to hear and take with you when you go home, and tell your friends: We are going to win this election,” Harris declared.
“We’re going to win.”
