President Biden Overtakes Trump In Campaign Funds Raising In The Month Of June

Biden Team Announces a June Cash Haul That Surpasses Trump’s
The Biden campaign said it had raised $127 million in June together with the Democratic Party, while the Trump team said that he and the allied Republican Party committees had taken in $112 million.

For the first time since March, President Biden has out-raised former President Donald J. Trump.

Both campaigns on Tuesday self-reported fund-raising hauls for the month of June: the Biden campaign said that combined with the Democratic Party, it had raised $127 million, a sign of strength in a month that ended with a halting debate performance that has cast doubts on the president’s re-election effort.

A few hours later, Mr. Trump’s team said that he and the allied Republican Party committees had taken in $112 million over the same period, though they emphasized that Mr. Trump had out-raised Mr. Biden over the total course of the second quarter, which begins in April and ends in June.

While Mr. Biden led Mr. Trump for months in the money race, the Republicans had lately pulled ahead, thanks in part to Mr. Trump’s fund-raising after his criminal conviction in New York on May 30. Mr. Trump’s joint operation out-raised Mr. Biden in both April and May, erasing the advantage that Mr. Biden had enjoyed for almost the entire campaign.

The Trump team maintains an advantage as of June 30 in cash-on-hand: The Trump groups said they had $285 million across their groups, while Mr. Biden’s aides disclosed that they carried just $240 million into the month of July. Both campaigns increased the amount in their coffers over the course of June: Mr. Trump and his party had $235 million at the start of June, while Mr. Biden and his party had $212 million.

The June fund-raising hauls were shaped by a few blockbuster events, most prominently the debate on the fourth-to-last day of the month. The Biden campaign and affiliated groups said they had raised $38 million in the four days after Mr. Biden stumbled through a debate against Mr. Trump, struggling for answers and at times appearing confused. Top campaign officials have pointed, including in a call with top donors on Monday evening, to the continued vigor of Mr. Biden’s fund-raising as a reason for Democrats not to panic.

Mr. Biden’s June fund-raising was also fueled by an event featuring Barack Obama, George Clooney and Julia Roberts that brought in roughly $28 million, a record for a single Democratic Party fund-raiser. That event took place two weeks before Thursday’s debate.

The Biden campaign decided to release its fund-raising figures early — federal filings are not due until July 20 — as part of an attempt to demonstrate strength during an extraordinarily difficult period for the campaign. In the afternoon, Mr. Trump posted his own fund-raising haul on Truth Social, and shortly thereafter the Trump campaign followed with their own figures in a news release.

Mr. Biden’s sum last month was his largest monthly haul of the election cycle. Both Mr. Biden and Mr. Trump raised more money in June of the last presidential cycle: Mr. Biden raised $141 million in June 2020, while Mr. Trump took in $131 million.

Faced with poor polling numbers this time around, the Biden campaign has invested heavily in advertising and opening campaign offices. But it is still building up its campaign war chest. Going into July, the Biden campaign reported having $240 million cash on hand, up from $212 million the previous month.

Democrats had some of their best fund-raising days after Mr. Biden’s struggles on the debate stage. The progressive fund-raising platform ActBlue reported $75 million raised on its platform on the final four days of the fund-raising quarter, according to its website.

Credit/New York Times