Democratic front-runner Hillary Clinton and her joint fundraising committees raked in $42 million last month, setting them on track to raise an unprecedented total of $130 million this year, according to advisers. Aides note this is the highest total any Democratic candidate has ever collected at such an early point in a cycle.
Even with his impressive gains, Biden still trails Trump in key polls and continues to accrue legal bills totalling millions defending himself in various court cases.
1. Biden for President
As a presidential candidate, Biden was required to regularly report donations and expenditures through his campaign committee. While his 2024 reelection campaign may still be many months away from officially commencing, he already is raising and spending funds.
He entered February with an impressive financial advantage over Donald Trump’s campaign, according to new filings. As of January’s end, Biden and associated committees held nearly $56 million compared with $33 million held by Trump’s campaign.
He has been an outspoken critic of President Donald Trump, warning him against becoming an existential threat to democracy. Since midterm election results defied historical norms, he has intensified fundraising efforts for Democratic candidates while expanding outreach. Currently he is on a three-day fundraising swing through California.
2. Biden Victory Fund
At least 36 billionaires and their spouses have given contributions of at least $100,000 each to two joint fundraising committees supporting Joe Biden’s 2024 presidential bid, new filings show. Donations were made to both the Victory Fund and Action Fund that allow donors to exceed the federal limit of $929,600 per election cycle.
These committees were set up to direct money toward his’s campaign and the Democratic National Committee as well as state party committees – money that can help promote his candidacy while staving off potential Republican challengers.
The Biden Victory Fund has already attracted support from Hollywood heavyweights like director Steven Spielberg and his wife Kate Capshaw, as well as high-profile supporters like philanthropist Laurene Powell Jobs and businessman Haim Saban. Starting off this year with over $130 million saved up, their bank balance puts them miles ahead of any potential Republican challenges.
3. Biden Action Fund
Biden campaign and Democratic National Committee combined raised more than $71 million during the third quarter, including contributions made directly and through joint fundraising committees. As of August 30th, those committees had amassed an additional $28 million. Aides of Biden believe they are seeing an uptick in contributions since launching last April.
As President Trump had just $66 million available at the end of October for both his campaign and Republican National Committee coffers, Sanders will have an edge in 2024’s costliest election ever; data from the nonpartisan Center for Responsive Politics show outside groups have spent approximately $2 billion so far supporting and opposing candidates in this race.
4. Biden for America
He announced his candidacy for president in April, vowing to get rid of President Donald Trump and ease political division. Since then he has campaigned on a platform calling for bold actions against various crises including COVID-19 pandemic, economic relief needs, climate change concerns, race equity concerns and immigration.
Bank records reveal that Joe Biden and his business associates have received over $10 million from foreign nationals through complex financial transactions involving multiple bank accounts over his time as vice president and senator from Delaware. Much of that money arrived during Joe’s presidency as vice president.
Public polls suggest that Biden could face stiff opposition in the Democratic primary. His main challengers, former U.N. Ambassador Nikki Haley and Florida Gov. Ron DeSantis have neither won endorsement from House Republicans, senators or governors nor outshone Donald Trump when it comes to fundraising – something Biden boasts an edge in. But Biden holds one crucial advantage over both of them – being able to raise money through aligned committees that support him.
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