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President Joe Biden raises $72 Million in campaign funds for reelection

President Joe Biden raises $72 Million in campaign funds for reelection

President Joe Biden, the Democratic National Committee, and other coordinated campaign entities collectively raised $72 million in campaign funds for his reelection. The announcement was made by the Biden campaign on Friday.

This fundraising success brings the Joe Biden campaign funds to a total cash on hand of $77 million, giving him an advantage over his two primary Republican competitors, former President Donald Trump and Florida Gov. Ron DeSantis (R). During the same period, Trump raised $35 million, and DeSantis raised $20 million.

Julie Chavez Rodriguez, Biden’s campaign manager, stated in a released statement, “We’ve witnessed remarkable enthusiasm for President Biden and Vice President Harris’ agenda, which includes their dedication to restoring democracy, advocating for more freedoms, and fostering economic growth by strengthening the middle class.” Rodriguez further highlighted the campaign’s significant financial support from grassroots donors, contrasting it with the Republican primary’s focus on extreme MAGA positions.

The Biden campaign is eager to underscore the broad grassroots support it has garnered, with over 394,000 donors contributing 670,000 times. It’s worth noting that 97% of these donations were under $200, demonstrating the campaign’s reliance on small-dollar contributions.

Biden’s strong start and record-breaking fundraising

Since announcing his reelection bid in late April, Biden’s team has been proactive in showcasing its strength and addressing concerns about his age and abilities. The campaign aims to dispel doubts among Democratic voters and dismiss speculation about alternative nominees, exemplified by Robert F. Kennedy Jr.’s unique campaign.

Biden’s campaign boasts $77 million cash on hand, a historic high for Democrats at this stage. The term “cash on hand” refers to the campaign’s cumulative fundraising minus expenditures made to date. Campaign experts frequently examine this metric to indicate if fundraising keeps up with spending.

However, it’s worth noting that other sitting presidents have raised more funds at this point in their reelection campaigns. During the second quarter of 2011, then-President Barack Obama’s reelection campaign and the DNC raised $86 million collectively. Similarly, in the second quarter of 2019, Trump and the Republican National Committee jointly raised $105 million.

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