Biden 2024 Campaign Raises $71 Million in Latest Quarterly Haul
Biden’s Fundraising Efforts Continue Despite Concerns
President Joe Biden’s re-election team and the Democratic Party announced on Sunday that they raised $71 million during the latest quarter, despite concerns about Biden’s age and low approval ratings. The funds raised are similar to the previous quarter, although the April-to-June period was shorter due to Biden launching his campaign in late April. Traditionally, the summertime July-to-September period is slower for fundraising.
Financial Standing and Concerns about Biden’s Age
The Democratic re-election effort currently has $91 million in cash on hand across various fundraising entities. Biden, who is 80 years old, faced doubts about his age in deciding to seek another term in 2024. Polls have shown concerns about the president’s age and decreased enthusiasm among Democratic voters.
Utilizing Funds for Campaign Operations
Biden’s campaign, based in Wilmington, Delaware, plans to use the funds to hire staff, organize in competitive states, and launch advertising campaigns. They are expected to continue hiring in the coming weeks to build an operation to combat their likely rival in the 2024 election, former President Donald Trump.
Comparison to Past Fundraising Efforts
In comparison, former President Trump and the Republican National Committee raised $125 million in the third quarter of 2019 for their re-election effort. Former President Barack Obama and the Democratic National Committee gathered $70 million in 2011. However, it is important to note that fundraising sums announced by Biden’s campaign cannot be directly compared to Republican rivals due to the inclusion of party accounts controlled by Biden allies.
Biden’s Popularity and Grassroots Fundraising
Biden’s popularity is currently at one of the lowest levels of his presidency, with a Reuters/Ipsos poll showing only 40% of Americans approving of his performance. To address concerns about their ability to bring in small-dollar donors, Biden’s campaign has focused on boosting grassroots fundraising. In 2020, small online donations contributed $700 million to Biden’s record-breaking $1 billion haul.
Moments Boosting Online Fundraising
Several moments have boosted online grassroots fundraising for Biden’s campaign, including a “Meet the Presidents” fundraising contest that raised nearly $2.5 million and the sale of “Dark Brandon” mugs and accompanying videos, which generated $2 million in revenue since August.
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