Home Feature News Biden raises $71 million in third quarter | CNN Politics

Biden raises $71 million in third quarter | CNN Politics



President Joe Biden raised greater than $71 million for his reelection marketing campaign and the Democratic Celebration within the third fundraising quarter of the 12 months, his marketing campaign introduced on Sunday.

Biden’s haul outpaces the quantities raised by every of the Republican presidential candidates who’ve reported their outcomes up to now.

The president’s political operation with the Democratic Nationwide Committee ended the quarter with $91 million, the marketing campaign mentioned. Biden’s marketing campaign didn’t disclose how that cash was divided between the marketing campaign and the get together committee.

The president practically met the $72 million that he raised within the first fundraising quarter this 12 months, although that interval was three weeks shorter since he launched his reelection in late April.

Marketing campaign co-chair Jeffrey Katzenberg instructed CNN the determine “exceeded the high-bar objectives” the marketing campaign set for the July to September interval, which is often a sluggish time to boost cash. Katzenberg argued it gives Biden with an higher hand as he’s in a position to commit the early sources towards the overall election whereas Republicans battle it out of their major.

“The momentum is continuous to construct for him. Because the stakes of the election have gotten clearer and the selection couldn’t be extra distinctive, the keenness grows,” Katzenberg mentioned. “All the cash that has been raised and is continuous to be raised and the $91 million that’s within the financial institution at the moment, it’s all targeted on November of 2024. All of our funding at the moment is targeted on these strategic, necessary locations – states which might be going to be the place this race will probably be received or misplaced.”

The Biden marketing campaign additionally mentioned its grassroots community grew from the earlier quarter.

The typical grassroots contribution was $40, the marketing campaign mentioned, and 97% of all donations had been beneath $200.

The marketing campaign didn’t present a precise whole raised by small-dollar donors, however that determine is predicted to change into obtainable when the marketing campaign information its report with the Federal Election Fee by Sunday’s deadline.

The $71 million displaying comes because the 80-year-old president has confronted low approval rankings and issues about his age. However Katzenberg argued the most recent fundraising haul exhibits enthusiasm for the president’s candidacy.

“Actions converse louder than phrases, and what this result’s actually about isn’t the vibes, not the sentiments, not the angst, not the tea leaf studying. It’s concrete proof that the beltway chatter, the cable speaking heads, as soon as once more have gotten this mistaken. They underestimated Joe Biden,” Katzenberg mentioned.

‘Darkish Brandon’ mugs and supporter meetups

Biden’s newest fundraising determine is greater than that raised by the candidates within the Republican presidential major, in line with the quantities reported up to now. Former President Donald Trump has topped that checklist, raking in additional than $45.5 million final quarter for his marketing campaign and related committees.

Trump’s marketing campaign mentioned his operation has $37.5 million readily available.

Neither Trump nor his rivals for the Republican nomination are elevating cash collectively with the Republican Nationwide Committee, and so they face decrease contribution limits for prime donors than Biden and his mixed effort with the Democratic Celebration.

Biden, nonetheless, raised lower than the $125 million introduced in by Trump as an incumbent presidential candidate within the third fundraising quarter of 2019. The president barely exceeded the $70 million raised by former President Barack Obama in the identical interval in 2011.

The marketing campaign mentioned greater than 493,000 donors gave to the marketing campaign via 843,000 contributions and the group has introduced in over 240,000 new donors who didn’t contribute to Biden’s 2020 marketing campaign, which was powered by small- greenback donors.

Biden’s marketing campaign has additionally doubled the variety of donors who’ve dedicated to donating each month since final quarter, with the determine now reaching over 112,000 folks.

The president’s group used a number of the identical on-line techniques from the second quarter to scoop up cash from small-dollar donors, elevating practically $2.5 million via a contest to satisfy Biden and Obama and bringing in near $2 million since August via the sale of “Darkish Brandon” mugs, which Biden pitched via social media movies.

Biden’s marketing campaign, which held 37 in-person fundraisers this quarter, has used an early joint fundraising settlement to its benefit, permitting the president to boost cash for his marketing campaign, the Democratic Nationwide Committee and state events. The breakdown of cash raised for every entity can also be anticipated to change into public once they submit their FEC filings.

“These numbers are a testomony to one in every of our core aims early on this marketing campaign: increase the sources wanted to run an aggressive marketing campaign that can win in November 2024,” mentioned Julie Chavez Rodriguez, the Biden-Harris marketing campaign supervisor.

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