Joe Biden and the Democratic Party could raise almost $1 million every single day between now and November, and he would still barely catch up to what President Donald Trump and the Republican Party had in the bank at the start of April -- let alone what Trump will have by Election Day.New fundraising
Joe Biden and the Democratic Party could raise almost $1 million every single day between now and November, and he would still barely catch up to what President Donald Trump and the Republican Party had in the bank at the start of April — let alone what Trump will have by Election Day.
“Trump’s clear lane is one of the huge benefits of incumbency, and he has used that advantage to turn the screws on every possible donor and execute a massive digital fundraising effort,” said Jim Margolis, a Democratic strategist and veteran of past presidential campaigns. “So, yes, there will be a fundraising imbalance, but I think Biden will have enough money to run a good campaign.”
Money is not always determinative in politics, especially at the presidential level. Biden won the 2020 primary despite being badly outspent. And Trump won the White House in 2016 despite spending far less than Hillary Clinton. But cash provides campaigns precious flexibility: allowing them to expand the electoral map, hire more staff members, buy more ads or even run political experiments at a moment when a pandemic has caused unprecedented societal upheaval.
Trump and his shared committees with the RNC raised $63 million in March and entered April with a combined $244 million in cash on hand. Biden and the DNC had $57.2 million in the bank, after accounting for unpaid debts. The Biden campaign’s decision last week to single out one super PAC, Priorities USA, above the others in a statement to The Wall Street Journal set off an intense round of rancor that one top fundraiser likened to a “nuclear bomb” in the political money world. Donors, super PAC strategists and campaign officials have spent much of the last week engaged in shuttle diplomacy to smooth matters over.
As the Biden campaign considered which outside group to endorse, Unite the Country recently added Clyburn’s daughter, Jennifer Clyburn Reed, as an unpaid board member and announced an alliance with another Democratic super PAC, American Bridge 21st Century, with a goal of raising $175 million.
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